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Rio2 ( (TSE:RIO) ) just unveiled an announcement.
Rio2 Limited has achieved the first official gold pour at its 100%-owned Fenix Gold Mine in Chile, marking the start of commercial production at what is now the country’s newest gold mine. The initial pour produced about 897 ounces of gold, in addition to roughly 358 ounces generated during commissioning in December, plus a combined 131 ounces of silver, with construction of critical-path infrastructure completed on time and on budget. The company is now focused on ramping up Fenix Gold to 20,000 tonnes of ore per day over the rest of the year, targeting 2026 gold output of 60,000 to 70,000 ounces, and positioning the mine as its cornerstone asset for growth alongside the planned Phase 2 expansion and the recently announced Condestable Copper Mine acquisition, developments that could meaningfully enhance Rio2’s production profile and long-term value for stakeholders.
The most recent analyst rating on (TSE:RIO) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Rio2 stock, see the TSE:RIO Stock Forecast page.
Spark’s Take on TSE:RIO Stock
According to Spark, TipRanks’ AI Analyst, TSE:RIO is a Neutral.
The score is held back mainly by uneven fundamentals—operating losses and negative free cash flow—despite a very strong, low-debt balance sheet. Technicals are a key positive with a clear uptrend and positive momentum, while valuation is a notable risk due to an extremely high P/E and no indicated dividend support.
To see Spark’s full report on TSE:RIO stock, click here.
More about Rio2
Rio2 Limited is a mining company focused on the development and operation of gold assets, led by a team with proven technical and capital markets experience. Its flagship operation is the Fenix Gold Mine in Chile, where the company is ramping up production to 20,000 tonnes of ore per day, and it emphasizes high environmental standards and responsible development across social, environmental and economic pillars.
Average Trading Volume: 1,038,616
Technical Sentiment Signal: Buy
Current Market Cap: C$1.67B
See more data about RIO stock on TipRanks’ Stock Analysis page.