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Rio Alto Mining Ltd fka RIOM RSS Feed

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15
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Created
04/28/10
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Contact:

Rio Alto Mining Limited
Feisal Somji
President & CEO
403.236.5089
403.398.0693 (FAX)
feisals@rioaltomining.com
Rio Alto Mining Limited
Alejandra Gomez
Investor Relations
 604.628.1401
866.393.4493 (FAX)
alejandrag@rioaltomining.com
www.rioaltomining.com

Share structure:

Outstanding Shares: 93,106,883 as of Mar 25, 2010 => 118,543,075 as of Aug 10, 2010
Authorized Shares: Unlimited
Float(shares): 70,000,000 as of Mar 25, 2010

Latest news:

Aug 26, 2010
Corporate Update - Adoption of Shareholder Rights Plan

 

 

The plan is intended to provide the board and the shareholders sufficient time to assess and evaluate any offer for shares of Rio Alto, which might at any time in the future be made, and, where appropriate, to enable the board to explore and develop alternatives to maximize value to shareholders.

In implementing the plan, the board declared the distribution of one right for each Rio Alto common share outstanding at the close of business on August 26, 2010. Also, one right will be issued with respect to each common share of Rio Alto issued after August 26, 2010. The rights trade with and are represented by Rio Alto's common share certificates. Rights certificates will not be distributed to shareholders and the rights do not become exercisable or separable unless one or more specified events occur.

If a person, or group acting in concert (an “acquiring person or group”), acquires 20 per cent or more of the common shares of Rio Alto, the rights will entitle the holders thereof (other than the acquiring person or group) to purchase shares of Rio Alto at a 50-per-cent discount from the market price at the time. With respect to any person or group acting in concert which held 20 per cent or more of the common shares as at August 26, 2010, any acquisition of an additional 1 per cent or more of the common shares of Rio Alto will also trigger the rights.

The rights are not triggered by a permitted bid, which must be a bid made to all shareholders, must be made in compliance with all applicable securities laws and must meet certain other conditions, including an acceptance period of 60 days. In the event such bid is accepted by shareholders holding at least 50 per cent of the common shares, other than those held on behalf of the bidder, it must thereafter remain open for a further 10-day period.

At any time prior to the rights becoming exercisable, the board may waive the operation of the plan with respect to certain particular events before they occur.

The plan is subject to TSX Venture Exchange approval and requires confirmation by Rio Alto's shareholders within the next six months.  If shareholders do not confirm the plan within such time frame, then the plan ceases to be in effect. Rio Alto is not aware of any pending or threatened takeover bid.  A copy of the rights plan agreement will be attached as Schedule A to the material change report that Rio Alto will file on SEDAR in respect of the adoption of the rights plan.

 
Aug 9, 2010
Rio Alto Retains Investor Relations Consultant
 
 
Rio Alto Mining Limited (“Rio Alto”) (TSXV & BVL: RIO, OTCQX: RIOAF, DB Frankfurt: MS2) is pleased to announce that it has entered into an investor relations agreement with Marc Andrews of San Francisco, California (the “Agreement”). 
Mr. Andrews possesses an extensive background in the investment industry which includes investor relations and corporate communications consultant positions for public and private companies in the energy and mining sectors. Mr. Andrews will leverage his knowledge and experience with the US Investment Community and Market to enhance Rio Alto’s investor awareness, liquidity, shareholder wealth, brand and story. 

The Agreement has a term of twelve months with a 30 day termination clause after the initial 6 months, pursuant to which Mr. Andrews will provide investor relations services to Rio Alto including the development of investor relations strategies relating to advertising programs and investor awareness and fostering broker and analyst interest in Rio Alto’s activities. As compensation for his services, Mr. Andrews will receive a retainer fee of $4,000 USD per month, reimbursement for related expenses and an aggregate of 100,000 options to purchase common shares in the capital of Rio Alto pursuant to the terms of Rio Alto's stock option plan with an exercise price of $0.80 per common share.

To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com

 
 
 
 
May 20, 2010
RIO ALTO COMPLETES FIRST TRANCHE OF PRIVATE PLACEMENT FOR $7.5 MILLION

Rio Alto Mining Limited (“Rio Alto”) (TSXV & BVL: RIO, OTCQX: RIOAF, DB Frankfurt: MS2) is pleased to announce that has closed the first tranche of a private placement of common shares for gross proceeds of C$7,510,000 (US$7,270,000). At this closing 10,097,162 common shares were sold at the issue price of $0.75 (US$0.72) per share. One or more additional tranches of the private placement may be completed.

The net proceeds of the private placement will be used by Rio Alto for the development of La Arena Gold Oxide Project and for general corporate purposes. The common shares issued pursuant to the private placement are subject to a statutory resale restriction period of four months and a day expiring on September 20, 2010. The completion of the private placement is subject to final approval from the TSX Venture Exchange.

Rio Alto will pay finders’ fees in connection with the first tranche of the private placement of US$510,000.

Rio Alto plans to bring La Arena Gold Oxide Project into production during 2010 and to use cash flow from production to further develop its assets in Peru. To learn more about Rio Alto, please visit Rio Alto’s website or Rio Alto’s profile on SEDAR at www.sedar.com. 

May 03, 2010
Rio Alto Mining Begins Trading on the OTCQX in the US


NEW YORK, May 3, 2010 /PRNewswire via COMTEX/ -- Pink OTC Markets Inc. (OTCQX: PINK), the financial information and technology services company that operates the leading electronic quotation and trading system in the U.S. OTC securities market, today announced that Rio Alto Mining Limited (OTCQX: RIOAF, TSX.V: RIO), a Canadian based resource company, began trading today on OTCQX(R).

Rio Alto Mining began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcqx.com and www.otcmarkets.com.

"We are pleased to welcome Rio Alto Mining to OTCQX," said R. Cromwell Coulson, President and CEO of Pink OTC Markets. "Companies that list on OTCQX, like Rio Alto Mining, demonstrate their commitment to providing superior information to investors and maintaining the highest quality standards."

Hodgson Russ LLP will serve as Rio Alto Mining's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on listing requirements. 

 Rio Alto Mining Limited: US$24.25 Million Accessed to Build La Arena Gold Mine

 CALGARY, ALBERTA, Apr 20, 2010 (Marketwire via COMTEX) -- Rio Alto Mining Limited ("Rio Alto") (TSX VENTURE:RIO)(BVLAC:RIO)(DBFrankfurt:MS2) is pleased to announce that it has entered into terms for a gold prepayment agreement in the amount of US$24.25 million with a New York-based, private institutional investor. At closing the Company will pay a cash fee of US$750,000 for assistance in arranging the prepayment agreement. Net proceeds from the agreement will be used to develop the La Arena gold oxide project in Peru.

Funding under the agreement is subject to completion of legal documentation, regulatory, including the TSX Venture Exchange, approval and conditions precedent typical of a transaction of this nature. Under the terms of the agreement, funds will be placed in escrow upon Rio Alto receiving environmental approval from the Peruvian Ministry of Energy and Mines ("MEM") for development of a 24,000 tonne per day gold oxide mine. Funds will be released from escrow upon receipt of construction permits for the mine development. The Company anticipates receipt of MEM approval in late May or June and receipt of construction permits approximately two months later.

The US$24.25 million is to be repaid by delivery of 36,800 ounces of gold over a forty-month period from first gold production.

Anthony Hawkshaw, CFO, commented that "Committing a small portion of La Arena's expected gold oxide production to fund completion of the mine is significantly less dilutive than funding the mine construction with equity. This gold pre-sale not only represents a less dilutive financing option it also maintains existing shareholders' interest in more than 90 per cent of the expected oxide gold production and preserves their interest in the existing copper/gold resource of approximately 3 billion pounds of copper and 3 million ounces of gold as well as the potential exploration upside from the Company's 21,000 hectares of nearby mining concessions."

This news release contains certain forward-looking information including statements concerning the expected timing of MEM approval and the receipt of construction permits and expected production from the La Arena gold mine. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rio Alto's disclosure documents on the SEDAR website at www.sedar.com. Rio Alto does not undertake to update any forward-looking information except in accordance with applicable securities laws.

To learn more about Rio Alto Mining Limited, please visit: www.rioaltomining.com. Technical information relating to La Arena project contained in this news release is derived from the technical report (the "Report") entitled "La Arena Project, Peru Technical Report" dated March 31, 2008. The Report was prepared in accordance with NI 43-101 and a copy is available under Rio Alto's SEDAR profile at www.sedar.com.

ON BEHALF OF THE BOARD OF RIO ALTO MINING LIMITED

Anthony Hawkshaw, Chief Financial Officer

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