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| Home : Rio Alto Closes US$25 Million Financing for Mine Expansion |
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Oct 21
2011 |
Rio Alto Closes US$25 Million Financing for Mine Expansion |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2011) - Rio Alto Mining Limited ("Rio Alto" or the "Company") (TSX VENTURE:RIO)(OTCQX:RIOAF)(BVLAC:RIO)(DBFrankfurt:MS2) is pleased to announce that it has completed definitive documentation for a US$25 million increase in its existing gold prepayment facility (the "Prepayment Facility") with Red Kite EXP 1 ("RKE") and concurrently drew down the full amount available under the Prepayment Facility. The funds will principally be used to increase daily mine production at the La Arena Gold Oxide Mine during 2012 from the initially planned 24,000 tonnes of ore to pad per day to 36,000 tonnes of ore per day. |
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| Source:http://www.marketwire.com/mw/release.do?id=1576321&sourceType=3 |
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