Rio2 Limited
RIO.TOSmall CapGold
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About Rio2 Limited
Rio2 Limited is developing the Fenix gold project in Chile's Atacama region, an advanced-stage heap-leach deposit with significant resources and completed feasibility study. The company benefits from Chile's mining expertise and established infrastructure in a stable mining jurisdiction.
Primary Commodities
Gold
Project Economics
Condestable Mine (Condestable & Raúl)
Copper· Lima Department, Peru· Production
Feasibility
Apr 2024
NPV (After-Tax) @ 8%$386M
NPV (Pre-Tax)$601M
Mine Life13.2 yrs
Annual Production8,400 tpd
Mine TypeUnderground
Ownership99.1%
- Mineral Reserves
- Proven & Probable: 39.5 Mt at 0.75% Cu, 0.13 g/t Au, 4.13 g/t Ag (containing 298 kt Cu, 170 koz Au, 5,252 koz Ag) as of Dec 31, 2022
- Mineral Resources
- Measured & Indicated: 83.7 Mt at 0.66% Cu, 0.13 g/t Au, 3.65 g/t Ag (containing 553.3 kt Cu, 346 koz Au, 9,815 koz Ag); Inferred: 12.9 Mt at 0.77% Cu, 0.07 g/t Au, 2.28 g/t Ag (containing 98.8 kt Cu, 31 koz Au, 947 koz Ag) as of Dec 31, 2022
- Royalties / Streams
- Gold and silver streaming agreement with Franco-Nevada (Barbados) Corporation. No third party royalties.
Source: Technical report
Condestable Mine
Copper· Peru (90 km south of Lima)· Production
Feasibility
Feb 2024
NPV (After-Tax) @ 8%$346M
AISC2.3 USD/lb
Annual Production27 kt CuEq (or ~80 koz AuEq)
Head Grade0.75% Cu, 0.13 g/t Au, 4.13 g/t Ag (reserve grade)
Recovery91.3%
Mine TypeUnderground
Ownership99.1%
Contained Metal553 kt Cu
- Mineral Reserves
- Proven: 18.8 Mt @ 0.72% Cu, 0.16 g/t Au, 4.82 g/t Ag (135 kt Cu, 94 koz Au, 2,919 koz Ag); Probable: 20.7 Mt @ 0.79% Cu, 0.11 g/t Au, 3.50 g/t Ag (163 kt Cu, 76 koz Au, 2,333 koz Ag); Total: 39.5 Mt @ 0.75% Cu, 0.13 g/t Au, 4.13 g/t Ag (298 kt Cu, 170 koz Au, 5,252 koz Ag)
- Mineral Resources
- Measured: 40.3 Mt @ 0.63% Cu, 0.15 g/t Au, 4.18 g/t Ag (253 kt Cu, 192 koz Au, 5,419 koz Ag); Indicated: 43.4 Mt @ 0.69% Cu, 0.11 g/t Au, 3.15 g/t Ag (300 kt Cu, 153 koz Au, 4,396 koz Ag); M&I: 83.7 Mt @ 0.66% Cu, 0.13 g/t Au, 3.65 g/t Ag (553 kt Cu, 346 koz Au, 9,815 koz Ag); Inferred: 12.9 Mt @ 0.77% Cu, 0.07 g/t Au, 2.28 g/t Ag (99 kt Cu, 31 koz Au, 947 koz Ag)
- Royalties / Streams
- Franco-Nevada stream: US$175M upfront; Phase 2 (2026-2030/32): 63% of gold & silver production until 87.6 koz Au and 2.91 Moz Ag delivered; Phase 3: 37.5% of gold & silver production. Offtake with Trafigura.
Source: Company presentation
Fenix Gold
Gold· Chile (Maricunga)· Construction
Feasibility
Oct 2023
AISC1,237 USD/oz
Annual Production100 koz Au
Head Grade0.48 g/t Au
Recovery75%
Mine TypeOpen-pit (heap leach)
Ownership100%
Contained Metal4,757 koz Au
- Mineral Reserves
- Proven: 63.2 Mt @ 0.50 g/t Au (1,022 kozs); Probable: 51.5 Mt @ 0.45 g/t Au (750 kozs); Total: 114.7 Mt @ 0.48 g/t Au (1,772 kozs)
- Mineral Resources
- Measured: 123.3 Mt @ 0.42 g/t Au (1,671 kozs); Indicated: 266.0 Mt @ 0.36 g/t Au (3,086 kozs); M&I: 389.2 Mt @ 0.38 g/t Au (4,757 kozs); Inferred: 90.8 Mt @ 0.33 g/t Au (959 kozs)
- Royalties / Streams
- Wheaton Precious Metals stream: 6.0% of gold production until 90 kozs delivered under base stream and flexible prepay satisfied; 4.0% thereafter until 140 kozs; 3.5% thereafter. Flexible prepay arrangement: US$100 million upfront, fixed monthly delivery schedule.
Source: Company presentation
Project figures are automatically extracted from company filings and presentations and reflect the most recent disclosure found. They may contain errors — always verify against the linked source document.
Financial Metrics
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Quick Facts
- Ticker Symbol
- RIO.TO
- Market Cap
- Small Cap
- Category
- Gold
- Commodities
- Gold
This information is for educational purposes only and does not constitute investment advice. Always conduct your own research before making investment decisions.
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