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Rochester Resources Ltd V.RCT

Alternate Symbol(s):  RCTFF

Rochester Resources Ltd. is a Canada-based company engaged in the exploration and development of its mineral property interests in Mexico. The Company holds a 100% interest in the Mina Real and San Francisco Properties, which are located in the state of Nayarit, Mexico, east of the state capital city of Tepic. In addition, the Company has an agreement to acquire a 70% interest in the Santa Fe Property. The Mina Real Property consists of 11 mining concessions and one mineral claim encompassing a total area of over 21,367.42 hectares (ha). The contiguous Santa Fe Property consists of one mining concession totaling approximately 3,852.66 ha. The San Francisco Property consists of 12 mining concessions encompassing over 18,125.05 ha. Its subsidiaries include ALB Holdings Ltd., Mina Real Mexico S.A. de C.V. and Compania Minera Santa Fe S.A. de C.V.


TSXV:RCT - Post by User

Bullboard Posts
Comment by trendisafriendon Oct 02, 2009 12:01pm
288 Views
Post# 16357341

Likely a good move Red.... should have done the sa

Likely a good move Red.... should have done the saThe big problem here is closure. The financing should be priced, then it takes away uncertainty in terms of where the shares should be priced. Stock trading at 17 cents tells me, it could possibly be done at 15 cents or even lower, doesn't leave us long term shareholders, much space on the upside, as dilution will be quite significant at this particular price, and therein is where the problem lies. I dont disagree, that the project doesnt' have good  merits however, structure is now  a problem, at least for the longer term holders. Remember, we just got end of may production numbers, and it was basically october that we got them.
Bullboard Posts