{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Company Interviews","title":"Rio2 (TSXV:RIO) - Gold Production on Track for Year End 2025","html":"","width":"100%","height":180,"duration":1147,"description":"Interview with Alex Black, Executive Chairman of Rio2 Ltd.Our previous interview: https://www.cruxinvestor.com/posts/rio2-tsxvrio-back-on-track-with-fenix-gold-project-4745Recording date: 7th May 2024Rio2 Limited, a junior mining company, has made significant progress in developing its Fenix Gold project in Chile. The company recently completed a successful $22 million equity financing round, surpassing its initial $8 million goal. This funding will support the project through to construction financing, which is anticipated in September 2024.The strong participation from existing shareholders in the financing round validates the project's potential and the company's strategy. CEO Alex Black expressed his surprise and gratitude for the overwhelming support, especially considering the challenges faced by shareholders during the previous two years due to permitting issues.The Fenix Gold project, which boasts 5 million ounces of gold reserves, is now well-positioned to move forward. The company has already completed substantial prefabrication work, and the funds raised will be used to reactivate alliance partnerships, remobilize people and equipment, and complete the assembly of the processing plant. Rio2 also plans to rehire many of the 80 professionals previously recruited in Chile.One of the most significant developments for the project is the support it now receives from the Chilean government. After facing permitting obstacles in the past, the Fenix Gold project is now considered a priority in the Atacama region, with the Ministry of Economy and the Ministry of Mining fully backing its development. Environmental bodies have even admitted in writing that the project was wrongfully halted before. With strong community support and the Atacama governor's endorsement, Rio2 expects to obtain the remaining permits by August 2024.Rio2 is targeting initial gold production at Fenix by the end of 2025. The mine plan involves stockpiling lower-grade ore while processing...","thumbnail_url":"https://img.transistorcdn.com/1wv-MFlQAgnm-ca64e5kK4984dZB0os8-HJdRVsI74M/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzEzNTcyLzE2MjM5/NTQyMDctYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}