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08/27/13 - C$3.06
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rio alto mining ltd (RIO) Details

Rio Alto Mining Limited, together with its subsidiaries, is engaged in the acquisition, exploration, development, and mining of mineral properties in Latin America. The company explores for gold oxide, copper/gold sulphide, copper, and silver properties. It holds interest in the La Arena mineral project, which consists of 20,673 hectares in 44 concessions located to the north-northwest of Lima, Peru. The company was formerly known as Mexican Silver Mines Ltd. and changed its name to Rio Alto Mining Limited in July 2009. Rio Alto Mining Limited is headquartered in Vancouver, Canada.

747 Employees
Last Reported Date: 03/28/14

rio alto mining ltd (RIO) Top Compensated Officers

Chief Executive Officer, President, Non-Indep...
Total Annual Compensation: $500.0K
Mining Manager of La Arena S.A.
Total Annual Compensation: $373.1K
Vice President of Operations
Total Annual Compensation: $366.6K
Vice President of Peru Corporate Affairs
Total Annual Compensation: $245.0K
Total Annual Compensation: $500.0K
Compensation as of Fiscal Year 2013.

rio alto mining ltd (RIO) Key Developments

Rio Alto Mining Limited Fulfills its Obligations to Red Kite Explorer Trust in Relation to its Operating Loan Agreement and Gold Prepayment Agreement

Rio Alto Mining Limited announced it has fulfilled its obligations to Red Kite Explorer Trust in relation to its Operating Loan Agreement and Gold Prepayment Agreement. The company repaid USD 3 million, plus accrued interest of USD 584,000 owing on the Operating Loan on July 11, 2014, as well as delivered the final 3,881 notional ounces of gold owing to Red Kite on July 14, 2014. Rio Alto has also drawn USD 35 million of funds from the term loan of USD 50 million obtained from Banco de Cr dito del Per and structured by Credicorp Capital Servicios Financieros S.A. These funds will be used for working capital.

Rio Alto Mining Limited Reports Production Results for the Second Quarter and Six Months Ended June 30, 2014; Maintains Production Guidance for the Year 2014

Rio Alto Mining Limited reported production results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported that its La Arena Gold Mine produced 54,517 ounces of gold (48,427 ounces of gold poured for the three months ended June 30, 2013). Gold production was 6,090 ounces better than the corresponding period of 2013 because ore production was 30% higher partially offset by a decline in grade of 0.14 gpt. For the six months, the company reported 107,979 ounces have been produced at La Arena compared with 84,783 ounces for the six months ended June 30, 2013. The company maintains its previous gold production guidance of 200,000 to 220,000 ounces of gold in 2014.

Rio Alto Mining Limited Secures $70 Million Financing from Banco de Crédito del Perú

Rio Alto Mining Limited announced it has obtained a commitment letter from Banco de Crédito del Perú that provides for a financing for aggregate proceeds of $70 million. The financing will be comprised of a term loan in the amount of $50 million and a lease agreement whereby La Arena S.A. acquires the operating assets of its electrical power subsidiary, Empresa de Energia Yamobamba S.A.C. 'Yamobamba Energy', for proceeds of $20 million. The loan will have a one year term and will bear an expected interest rate in the range of 2.5% to 2.75% per annum and the lease will have a three year term and an expected interest rate of 4.50% per annum. The financing has been structured by Credicorp Capital Servicios Financieros S.A. and the funds lent by Banco de Crédito del Perú.


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