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VANCOUVER - Rio2 Limited (TSX:RIO; OTCQX:RIOFF; BVL:RIO) has purchased 4,166,667 ordinary shares of Royal Road Minerals Limited at $0.18 per share for a total investment of $750,000, according to a company statement released Thursday. Rio2, currently trading at $72.20 USD and considered slightly undervalued according to InvestingPro Fair Value estimates, has demonstrated strong market performance with a 30.28% return year-to-date.
The purchase was made as part of Royal Road’s non-brokered private placement that closed on November 27, 2025. Following the transaction, Rio2 now owns 44,021,667 shares of Royal Road, representing approximately 15% of the company’s issued and outstanding shares on a non-diluted basis.
Prior to this placement, Rio2 held 39,855,000 shares, which also represented approximately 15% of Royal Road’s issued and outstanding shares.
The investment was made under an Investor Rights Agreement announced on September 29, 2025, which allows Rio2 to participate in Royal Road’s equity financings to maintain its proportional ownership or acquire up to a 15% stake, provided Rio2 maintains at least a 9.5% ownership in Royal Road.
Rio2 indicated in the press release that it acquired the shares for investment purposes and may, subject to the Investor Rights Agreement, acquire additional shares or dispose of some or all of its Royal Road securities in the future.
The company has filed an early warning report in connection with the transaction in accordance with National Instrument 62-103.
Rio2 Limited is a mining company focused on developing its Fenix Gold Project in Chile, with a staged development strategy. With a market capitalization of $122.72 billion, Rio2 is a prominent player in the Metals & Mining industry and offers a 4.09% dividend yield. The company has maintained strong financial health with sufficient cash flows to cover interest payments. For a comprehensive analysis of Rio2’s financial outlook and additional ProTips, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Rio Tinto reported record production levels in its bauxite business and at the Oyu Tolgoi copper mine in Mongolia during the third quarter of 2025. The company’s copper equivalent production rose by 9% year-over-year, with expectations to reach the upper end of its annual guidance range due to the ongoing ramp-up at Oyu Tolgoi. Additionally, Rio Tinto has announced a 40% reduction in production at its Yarwun Alumina Refinery in Australia starting October 2026, a strategic move to extend the facility’s operational life. In an effort to decarbonize its operations, Rio Tinto secured a 15-year virtual power purchase agreement with TerraGen for renewable energy from the Monte Cristo I Windpower project in Texas.
Moreover, Rio Tinto has restructured its board, with Sharon Thorne succeeding Simon Henry as Chair of the Audit & Risk Committee. The board restructuring, effective October 23, 2025, completes a transitional phase that temporarily increased the board size. In the financial markets, JPMorgan has raised its price target for Rio Tinto to GBP61.70 from GBP54.50, maintaining an Overweight rating on the stock. The investment bank highlighted potential value creation and placed the company on Positive Catalyst Watch ahead of its upcoming Capital Markets Day. These developments reflect Rio Tinto’s ongoing strategic adjustments and operational achievements.
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