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Rio Novo Gold Gains on Toldafria Concession Extension, Almas Assay Results

Rio Novo Gold Inc (RN.TO), already higher with most gold stocks today, is getting an added boost after saying it has secured a 30-year concession contract award for its Toldafria mining property in Columbia. Rio Novo shares are now up 11 cents, spiking 11% to $1.10 each on the news.

The company also reported assay results for 13 scout holes at the Vira-Saia target and six additional holes at the Morro do Carneiro target within its Almas gold project in Brazil. It said drilling confirms continuous depths of at least 100 meters at Vira-Saia; work at the Morro do Carneiro target continues to intercept significant gold mineralization.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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