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TSX-V: RCT
| Date: |
02-15-2008 |
| Time: |
15:56 |
| Last: |
$2.25 |
| Volume: |
90480 |
| Change: |
-0.08 |
15-20 min delay
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Tue Feb 12, 2008 : News Releases : Rochester Stakes Additional Ground In Nayarit, Mex ... more...
Wed Feb 6, 2008 : News Releases : Rochester Brings Second Drill to Florida North more...
Wed Jan 30, 2008 : News Releases : Rochester Discovers Multiple Veins at Two New Pros ... more... |
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Rochester has assembled an attractive portfolio of high grade gold-silver properties located in the state of Nayarit, Mexico, in the Sierra Madre Occidental range. This is the largest epithermal precious metal region in the world, hosting a majority of Mexico's large tonnage gold and silver deposits.
Rochester commenced milling operations at its 7,381 hectare high-grade Mina Real property in January 2007 with the commissioning process being completed May 31, 2007. The Company has, in a very compressed timeframe, acquired, developed and brought into production the Florida triple vein structure at the Mina Real Property. The Company now has an operating mill which should soon be generating significant cash flow from operations which in turn will provide funds for further exploration and drift development project-wide.
In March of 2007 Rochester entered into an agreement to acquire a 70-per-cent interest in the promising 3,823 hectare Santa Fe gold-silver property contiguous to the Mina Real property. At this project, 26 vein structures have been identified to date property-wide with strike lengths greater than 4 kilometres and mineralized widths up to 40 metres. This project has been given the highest priority in the near-term for its recently announced exploration and drift development program.
In our opinion, Rochester's multi-disciplined approach at our two properties will substantially increase shareholder value in the near and mid term by simultaneously executing on, and developing the following three concurrent activities:
1. Mill production - This will generate significant cash flow and help fund our ongoing exploration and development with minimum share dilution;
2. Drift development - This will provide bulk sample-like information and assist in generating a NI43-101 compliant reserve report while at the same time providing feed for the mill and cashflow for the Company; and,
3. Exploration - A 7000 metre Phase 1 diamond drill program commenced in November 2007 which should provide clarity to what the next step will be for the company in mine development.
"We expect significant improvement in net revenues and profitability as we continue to reduce operating costs, improve recovery rates and increase head grades over the coming months. Rochester is well positioned to take full advantage of the current bull market in the gold and silver markets. Also, we have high hopes on the exploration front as what we are seeing on surface and what we understand through our theoretical geological model, which has been proved correct to date at Florida and Tajos Cuates,leads us to believe that there is world class potential at our projects at Santa Fe and Mina Real" commented Dr. Parra.
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