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Rio Silver ( (TSE:RYO) ) has shared an update.
Rio Silver Inc. reported encouraging initial metallurgical results from its Maria Norte silver-gold-lead property in Peru’s historic Huachocolpa district, where flotation test work achieved recoveries of 85% for silver, 74% for gold and 77% for lead with low arsenic levels in the concentrates. The company plans to design processing around two concentrate streams and is progressing permitting and bulk sampling, viewing the clean, high-grade concentrates as potentially highly marketable in Peru’s blending market and a key step toward near-term development.
A composite surface sample from a quartz-lead sulphide vein at Maria Norte yielded high grades of silver, gold and lead, and test work produced two concentrates with strong mineral-to-concentrate ratios and low arsenic content. Management says the results support a strategy to advance bulk sampling, concentrate generation and processing over the next two years, reinforcing Rio Silver’s operational and financial position as it seeks to build a foothold among Peru’s next generation of silver producers.
The most recent analyst rating on (TSE:RYO) stock is a Hold with a C$0.52 price target. To see the full list of analyst forecasts on Rio Silver stock, see the TSE:RYO Stock Forecast page.
Spark’s Take on RYO Stock
According to Spark, TipRanks’ AI Analyst, RYO is a Neutral.
The score is held back primarily by weak financial performance (pre-revenue, ongoing operating losses and negative operating cash flow), partially offset by strong technical momentum (price above major moving averages, positive MACD) and generally positive corporate developments (project acquisitions and financing). Valuation is only middling given a ~30.6 P/E without dividend support.
To see Spark’s full report on RYO stock, click here.
More about Rio Silver
Rio Silver Inc. is a Canadian resource company focused on advancing high-grade, silver-dominant assets in Peru, the world’s second-largest silver producer. The company targets near-term development within established mineral belts and leverages a technical team experienced in Peruvian geology, underground mining and district-scale exploration to position itself as an emerging silver producer.
Average Trading Volume: 378,051
Technical Sentiment Signal: Buy
Current Market Cap: C$25.69M
For an in-depth examination of RYO stock, go to TipRanks’ Overview page.