# Rio2 Reports Q2 2026 Financial and Operating Results and Webinar Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de Original source: https://www.globenewswire.com/news-release/2026/08/13/3344405/0/en/rio2-reports-q2-2026-financial-and-operating-results-and-webinar.html Publisher: globenewswire Original announcement: 2026-08-13T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Rio2 Limited - Ticker: RIO - Exchange: Unavailable - Region: Unavailable - Primary commodity: Copper - Secondary commodities: Gold, Silver - Document categories: Production, Resource update - Extracted: 2026-09-12 02:40:55 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Rio2 Limited reported strong Q2 2026 financial and operating results, including a net income of $46.8 million and consolidated revenue of $105.3 million. The Fenix Gold Mine continued its ramp-up, producing 9,088 ounces of gold, while the Condestable Copper Mine delivered solid performance with 9.3 million pounds of copper, 4,451 ounces of gold, and 74,374 ounces of silver produced. The company also announced an updated Mineral Resource and Reserve Estimate for Condestable, showing increased resources and reserves, and is on track for commercial production at Fenix Gold in Q4 2026. Reasoning: Rio2 Limited reported strong Q2 2026 financial and operating results, including increased production and a significant resource upgrade at Condestable. While Fenix Gold faced weather-related challenges and lower-than-planned head grades, and Condestable's copper grades were below plan, overall operational performance improved, and the company is progressing towards commercial production at Fenix Gold. - Positive factor: Strong financial performance with significant net income and adjusted EBITDA for Q2 2026 and YTD 2026. - Positive factor: Increased production of gold, silver, and copper across both Fenix Gold and Condestable mines. - Positive factor: Updated Mineral Resource and Reserve Estimate for Condestable shows increased resources across all categories, indicating growth and de-risking. - Positive factor: Fenix Gold ramp-up is progressing with key constraints being addressed, and commercial production anticipated in Q4 2026. - Positive factor: Condestable operations continued to deliver to plan, with gold and silver recoveries materially better than budgeted. - Negative factor: Fenix Gold experienced lower than planned head grades and production deferrals due to extreme weather \(snowfall and cold temperatures\). - Negative factor: Condestable copper grades were below planned due to higher internal dilution. - Negative factor: Fenix Gold's gold head grade is low for an open pit operation, even if above the weak threshold. - Negative factor: Condestable's gold recovery rate is slightly below the weak threshold for a mill/CIL operation, despite being better than budgeted. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 65 ## Classification and evidence **Below Plan Grade** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: Fenix Gold's head grade of 0.462 g/t Au was explicitly stated as 'below plan' and 'lower than planned head grade' in the document. Evidence · text > grade was below plan, as expected, due to a delay in tonnes from Q1 and limited ability to selectively mine high-grade material. **Low Head Grade** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Fenix Gold head grade of 0.462 g/t Au falls into the 'weak' category \(>=0.3 g/t\) for open pit gold deposits according to rubrics, indicating a low grade. Evidence · table > 0.462 Context: Head Grade \(g/t Au\) **Below Plan Grade** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: Condestable's copper head grade of 0.66% Cu was explicitly stated as 'below planned grades due to higher internal dilution'. Evidence · text > Copper grades were below planned grades due to higher internal dilution in certain stopes **Recovery Improving** Polarity: positive Story-specific tag Definition: Recovery improved versus a like-for-like prior test program on the same domain and route. Why it applies: Condestable's gold and silver recoveries were reported as 'materially better than budgeted', indicating an improvement in performance. Evidence · text > gold and silver recoveries were materially better than budgeted. **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: The updated M&I and Inferred Resources for Condestable 'increased from the previous figures published in the 2022 Technical Report'. Evidence · text > Total Measured and Indicated Resources of 82.1m tonnes \(0.69% Cu, 0.13 g/t Au and 4.12 g/t Ag\) and Inferred Resources of 22.2m tonnes \(0.76% Cu, 0.09 g/t Au and 2.78 g/t Ag\) increased from the previous figures published in the 2022 Technical Report. **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The updated MRE for Condestable shows increased Measured and Indicated Resources and Proven and Probable Reserves, implying an upgrade in confidence and quantity from previous estimates. Evidence · text > Total Measured and Indicated Resources of 82.1m tonnes \(0.69% Cu, 0.13 g/t Au and 4.12 g/t Ag\) and Inferred Resources of 22.2m tonnes \(0.76% Cu, 0.09 g/t Au and 2.78 g/t Ag\) increased from the previous figures published in the 2022 Technical Report. Updated Proven and Probable Reserves of 36.5m tonnes \(0.73% Cu, 0.15 g/t Au and 4.28 g/t Ag\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The scientific and technical content of the news release, including the MRE, has been reviewed, approved and verified by Enrique Garay, MSc P.Geo/FAIG, who is a QP under NI 43-101. Evidence · text > The scientific and technical content of this news release has been reviewed, approved and verified ‎by Enrique Garay, MSc P.Geo/FAIG, who is a QP under NI 43-101. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The updated mineral resource/reserve estimate for Condestable is explicitly stated to be in compliance with NI 43-101. Evidence · text > Rio2 announced the completion of an updated mineral resource/reserve estimate \('MRE'\) on June 23rd and the filing of an updated NI 43-101 Technical Report on the Condestable Mine on July 23rd. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document explicitly announces the completion and filing of an updated mineral resource/reserve estimate for the Condestable Mine. Evidence · text > Rio2 announced the completion of an updated mineral resource/reserve estimate \('MRE'\) on June 23rd and the filing of an updated NI 43-101 Technical Report on the Condestable Mine on July 23rd. ## Extracted facts Stored fact records: 9. Some facts used in scoring do not have a stored record. ## Resource Estimates (9) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-56) Condestable Mine · copper #### Identity - Project: Condestable Mine - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:45cb574f8e8f86f5e17f #### Resource Data - Category: indicated - Tonnes: 82100000 - Grade: 0.69 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated M&I resource of 82.1 Mt at 0.69% Cu represents a significant increase from previous estimates, enhancing project confidence and supporting future development. - Positive factor: Significant Measured and Indicated resource tonnage, providing a strong foundation for future economic studies. - Positive factor: Increased from previous figures, indicating resource growth and de-risking. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. Evidence · text > Total Measured and Indicated Resources of 82.1m tonnes \(0.69% Cu, 0.13 g/t Au and 4.12 g/t Ag\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-57) Condestable Mine · gold #### Identity - Project: Condestable Mine - Commodity: gold - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:45cb574f8e8f86f5e17f #### Resource Data - Category: indicated - Tonnes: 82100000 - Grade: 0.13 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated M&I resource includes 82.1 Mt at 0.13 g/t Au, representing a valuable byproduct and an increase from previous estimates. - Positive factor: Significant Measured and Indicated resource tonnage for gold, contributing to the polymetallic nature of the deposit. - Positive factor: Increased from previous figures, indicating resource growth and de-risking. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. Evidence · text > Total Measured and Indicated Resources of 82.1m tonnes \(0.69% Cu, 0.13 g/t Au and 4.12 g/t Ag\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-58) Condestable Mine · silver #### Identity - Project: Condestable Mine - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:45cb574f8e8f86f5e17f #### Resource Data - Category: indicated - Tonnes: 82100000 - Grade: 4.12 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated M&I resource includes 82.1 Mt at 4.12 g/t Ag, representing a valuable byproduct and an increase from previous estimates. - Positive factor: Significant Measured and Indicated resource tonnage for silver, contributing to the polymetallic nature of the deposit. - Positive factor: Increased from previous figures, indicating resource growth and de-risking. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. Evidence · text > Total Measured and Indicated Resources of 82.1m tonnes \(0.69% Cu, 0.13 g/t Au and 4.12 g/t Ag\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-59) Condestable Mine · copper #### Identity - Project: Condestable Mine - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:a11b94d2e0419cfd59e5 #### Resource Data - Category: inferred - Tonnes: 22200000 - Grade: 0.76 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated Inferred resource of 22.2 Mt at 0.76% Cu shows significant growth and potential for future resource expansion. - Positive factor: Significant Inferred resource tonnage, indicating potential for future conversion to higher confidence categories. - Positive factor: Increased from previous figures, indicating resource growth. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. - Negative factor: Inferred resources are speculative and cannot support economic studies alone. Evidence · text > Inferred Resources of 22.2m tonnes \(0.76% Cu, 0.09 g/t Au and 2.78 g/t Ag\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-60) Condestable Mine · gold #### Identity - Project: Condestable Mine - Commodity: gold - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:a11b94d2e0419cfd59e5 #### Resource Data - Category: inferred - Tonnes: 22200000 - Grade: 0.09 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated Inferred resource includes 22.2 Mt at 0.09 g/t Au, showing potential for future gold resource expansion. - Positive factor: Significant Inferred resource tonnage for gold, indicating potential for future conversion. - Positive factor: Increased from previous figures, indicating resource growth. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. - Negative factor: Inferred resources are speculative and cannot support economic studies alone. Evidence · text > Inferred Resources of 22.2m tonnes \(0.76% Cu, 0.09 g/t Au and 2.78 g/t Ag\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-61) Condestable Mine · silver #### Identity - Project: Condestable Mine - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:a11b94d2e0419cfd59e5 #### Resource Data - Category: inferred - Tonnes: 22200000 - Grade: 2.78 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated Inferred resource includes 22.2 Mt at 2.78 g/t Ag, showing potential for future silver resource expansion. - Positive factor: Significant Inferred resource tonnage for silver, indicating potential for future conversion. - Positive factor: Increased from previous figures, indicating resource growth. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. - Negative factor: Inferred resources are speculative and cannot support economic studies alone. Evidence · text > Inferred Resources of 22.2m tonnes \(0.76% Cu, 0.09 g/t Au and 2.78 g/t Ag\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-62) Condestable Mine · copper #### Identity - Project: Condestable Mine - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:43a22e372a247e2e71a6 #### Resource Data - Category: probable - Tonnes: 36500000 - Grade: 0.73 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated P&P Reserves of 36.5 Mt at 0.73% Cu demonstrate strong economic viability and an increase from previous estimates. - Positive factor: Robust Proven and Probable Reserves underpin a strong post-tax NPV and LOM, indicating economic viability. - Positive factor: Increased from previous figures, indicating reserve growth and de-risking. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. Evidence · text > Updated Proven and Probable Reserves of 36.5m tonnes \(0.73% Cu, 0.15 g/t Au and 4.28 g/t Ag\) #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-63) Condestable Mine · gold #### Identity - Project: Condestable Mine - Commodity: gold - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:43a22e372a247e2e71a6 #### Resource Data - Category: probable - Tonnes: 36500000 - Grade: 0.15 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated P&P Reserves include 36.5 Mt at 0.15 g/t Au, representing a valuable byproduct and an increase from previous estimates. - Positive factor: Robust Proven and Probable Reserves for gold, contributing to the polymetallic nature and economic viability of the deposit. - Positive factor: Increased from previous figures, indicating reserve growth and de-risking. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. Evidence · text > Updated Proven and Probable Reserves of 36.5m tonnes \(0.73% Cu, 0.15 g/t Au and 4.28 g/t Ag\) #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/rio2-reports-q2-2026-financial-and-operating-results-and-webinar--c7cdac35-b750-42e8-9fa4-15df7d7674de#fact-resource-facts-64) Condestable Mine · silver #### Identity - Project: Condestable Mine - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: RIO #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Enrique Garay - Resource group id: resource:43a22e372a247e2e71a6 #### Resource Data - Category: probable - Tonnes: 36500000 - Grade: 4.28 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-05-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-13T00:00:00.000Z Reasoning: Condestable's updated P&P Reserves include 36.5 Mt at 4.28 g/t Ag, representing a valuable byproduct and an increase from previous estimates. - Positive factor: Robust Proven and Probable Reserves for silver, contributing to the polymetallic nature and economic viability of the deposit. - Positive factor: Increased from previous figures, indicating reserve growth and de-risking. - Positive factor: NI 43-101 compliant and QP signed, ensuring high reporting standards. Evidence · text > Updated Proven and Probable Reserves of 36.5m tonnes \(0.73% Cu, 0.15 g/t Au and 4.28 g/t Ag\) #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.