Cantor Fitzgerald analyst Matthew O’Keefe upgraded Rio2 (RIOFF) to Buy from Hold with a price target of C$4.70, up from C$4, after the company announced the first official gold pour at its 100%-owned Fenix Gold Mine in Chile. The construction of critical path items at Fenix Gold has been completed on time and on budget, the analyst tells investors in a research note. The firm says that with the successful gold pour, Rio2 has entered the production phase at Fenix.
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Read More on RIOFF:
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