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Rio2 (RIO) investor relations material
Rio2 Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved first production at Fenix Gold and initial contribution from Condestable following its acquisition in January 2026, marking a milestone quarter with consolidated production of 7,849 oz gold, 49,198 oz silver, and 6.4M lbs copper.
Ramp-up at Fenix Gold faced start-up challenges, but most issues have been addressed; production expected to increase through 2026.
Condestable performed to expectations, providing immediate cash flows and integrating well with the company.
Financial highlights
Income from mine operations was $24.6M and adjusted net income was $12.1M, compared to $0 and an adjusted net loss of $1.3M in Q1 2025.
Consolidated revenue reached $65.9M in Q1 2026.
EBITDA was $40.97M and adjusted EBITDA was $30.82M, up from negative values in Q1 2025.
Ended Q1 2026 with $93.1M in cash and cash equivalents, after voluntary repayment of $20M in debt.
Cash provided by operating activities was $22.8M; investing activities used $80.3M; financing activities provided $103.5M.
Outlook and guidance
Fenix Gold expected to reach commercial production in Q4 2026, with 2026 gold production guidance of 60,000–65,000 oz.
Condestable production guidance for Feb–Dec 2026 is 21,500–23,500 tonnes of payable copper equivalent.
Efforts underway to increase Fenix Gold mining rate to 20,000 tonnes/day in Q2 2026 and recover Q1 shortfall.
- Major gold project nears production, with staged expansion and strong resource base secured.RIO
2025 Precious Metals Summit - Beaver Creek24 Jun 2026 - Fenix and Condestable ramp up production and expansion, targeting self-funded growth.RIO
Mining Forum Europe 202624 Jun 2026 - Expanding gold and copper production with robust EBITDA and major growth plans in Chile and Peru.RIO
35th BMO Global Metals, Mining & Critical Minerals Conference20 Jun 2026
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