Rio2 Ltd. (RIO:TSX.V; RIOFF:OTCQX; RIO:BVL) announced an update on the ongoing development of its wholly owned Fenix gold project, which is under construction in the Atacama region of Chile.
As of the close of the second quarter in 2025, the project is 41% complete, staying on course and within the budget set for the commencement of gold production in January 2026, the company said in a release.
The company recently secured a significant boost for Fenix, receiving a third installment of CA$50 million from Wheaton Precious Metals. This funding is part of a comprehensive construction finance package that includes a flexible prepayment option and a gold stream agreement, ensuring the full financing of the Fenix project’s construction phase, reported Jeff Clark for The Gold Advisor.
“It’s always great for us investors when a company has access to a non-dilutive form of financing,” noted Clark.
Despite Friday’s positive movement in the…
