For the past six trading sessions I have been building a position in Rio Alto Mining LTD - RIO.  Rio Alto's main project, La Arena gold and copper project, is located in north central Peru (approx. 480 km north-northwest of Lima).  La Arena contains both 2.8 million ounces of gold and 1.7 billion pounds of copper in indicated resources and an additional 1.2 million ounces of gold and 1.2 billion pounds of copper in inferred resources.  In order to maximize shareholder value, Rio has devised a development plan into two phases;  The first being the Gold Oxide Project and the second phase being the Copper/Gold Oxide project. It is anticipated that the first phase will be in operation and producing gold in Q4 2010.  It has recently closed (see December 1, 2009 NR) a 6.1 million private placement at a price set at
.36 per share.  Proceeds will be used to bring the Gold Oxide Project into production.  Rio anticipates to use cash flow from the first phase to complete the second.  I believe that Rio Alto Mining will will perform very well in the months to come.  I highly recommend you take a look at their website:

As always, do your own DD and make sure RIO is right for you.  RIO is a STRONG BUY at the current levels.  Have a great trading day,


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