Rio2 Business Summary

Rio2 Ltd (RIOFF) operates as a multi-asset precious and base metals producer, generating revenue through the extraction and sale of gold, silver, and copper concentrates. The company’s business model transitioned from pure-play development to active production in early 2026 following the first gold pour at its 100%-owned Fenix Gold Mine in Chile, a run-of-mine heap leach operation. Its primary business segments are bifurcated by geography and commodity: the Fenix Gold Project in the Maricunga Mineral Belt (Chile) and the recently integrated Condestable Mine (Peru), an underground copper-gold-silver operation acquired in late 2025. Rio2 competes directly with mid-tier miners such as Fortuna Mining Corp., IAMGold Corporation, and Andean Precious Metals. Within this peer group, Rio2 distinguishes itself as a high-growth producer with a dual-commodity platform, leveraging a low-CAPEX heap leach model in Chile to complement the immediate, steady cash flow generated by its Peruvian copper assets. The leadership team is anchored by a core group of executives with a proven pedigree in South American mining, notably having previously built and sold Rio Alto Mining for C$1.2 billion. Andrew Cox serves as President and CEO, overseeing the 2026 production ramp-up, while Founder Alex Black holds the role of Executive Chairman. The executive suite is supported by Kathryn Johnson (CFO and Corporate Secretary), Enrique Garay (SVP Geology), and Ian Dreyer (SVP Technical Services). The company’s board includes seasoned industry veterans such as Lead Independent Director Klaus Zeitler and Sidney P. Robinson. A critical strategic partner and notable investor is Wheaton Precious Metals, which provided essential project financing through a $50 million gold stream agreement, signaling strong institutional backing for the company’s transition into a multi-jurisdictional producer.