|We got an intriguing PR from Rio2 aka RIO this morning. They have managed to sell one of their non-core properties in Chile to a local company for $5M. When I starting reading the PR I figured that the deal would provide another $5M insurance as they build their Fenix gold mine, but then comes an interesting quote from their Chief Strategist - "“the sale of this non-core asset adds an additional US$5,000,000 of available funding to support Rio2’s strategic business initiatives other than the construction of the Fenix Gold Project which has its project financing arranged to production.”|
I shouldn't have been surprised. Even as they efficiently press forward on their main task, in this case building Fenix, it is characteristic of this management team to have more irons in the fire.