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Rio Silver ( (TSE:RYO) ) has issued an update.
Rio Silver Inc. has successfully closed the acquisition of the Maria Norte Property in Central Peru, following regulatory approval. This acquisition involves obtaining 100% of the shares of Mamaniña Exploraciones S.A.C., a Peruvian corporation holding mining rights to the property. As part of the transaction, Rio Silver issued shares to Peruvian Metals Corp. and agreed to a payment plan over five years. This strategic move is expected to enhance Rio Silver’s operational capacity and strengthen its position in the Peruvian mining sector.
Spark’s Take on TSE:RYO Stock
According to Spark, TipRanks’ AI Analyst, TSE:RYO is a Underperform.
Rio Silver’s overall stock performance is hindered by significant financial weaknesses, including lack of revenue and negative equity. Technical analysis indicates a bearish trend, and valuation metrics are unappealing with a negative P/E ratio. The strategic sale of the Niñobamba project offers a glimmer of opportunity for improvement.
To see Spark’s full report on TSE:RYO stock, click here.
More about Rio Silver
Rio Silver Inc. is a company operating in the mining industry, focusing on the exploration and development of mineral properties. The company is primarily involved in the extraction of precious metals such as silver, gold, lead, and zinc, with a market focus on expanding its mining rights and operations in Peru.
Average Trading Volume: 75,831
Technical Sentiment Signal: Buy
Current Market Cap: C$9.84M
See more data about RYO stock on TipRanks’ Stock Analysis page.