Rochester (RCT.V) gold production increases Q2 With $3 million in gross revenue for Q2. Rochester (RCT.V) produced 305,186 ounces of silver for full year last year. Gold production on pace to double this year increased to 1,503 ounces in Q2 this year, along with 53,190 ounces of silver in the second quarter. Two induction furnaces are now installed for switch to Dore bar production. Both silver and gold production increased from previous year (silver by 70,000). Gold and Silver grades kept increasing all year. Rochester is a producer with five mine locations (fourth and fifth ramping up).
The CEO whose previous company (Luisman) was swallowed by Wheaton River (became a director) then bought by Goldcorp (Then he took the role of Executive Vice President of Goldcorp from March 2005 to September 2007). Institutionally held by Sprott, Mackenzie, U.S Global, Libra Funds, TD and a couple of others bought at higher prices.
Rochester has invested over $25 million into the operations and market cap is only $4 million. Rochester will produce 200,000 plus ounces of silver this coming fiscal year along with 4,500 to 5,500 ounces of gold.
New power grid and shorter haulage road at third (of 5 mine locations) at San Francisco being built. Silver grades at San Francisco (third mine) are as high as 815g/t (average 200 g/t to 300 g/t.).
| Revenues | $12,495,345 (2013) | $11,634,705 (2012) | $9,196,479 (2011) |
| RESULTS | Q1
(Jun 1 - Aug 30, 2013) | Q2
(Sept 1 - Nov 30, 2013) | Accumulated Six Months
Ended Nov 30, 2013 |
| Tonnes Processed | 16,976 Tonnes | 16,735 Tonnes | 33,711 Tonnes |
| Gold Grade | 2.30 g/t | 2.95 g/t | 2.62 g/t |
| Silver Grade | 265.18 g/t | 206.25 g/t | 235.93 g/t |
| Gold Produced | 1,179 Ounces | 1,503 Ounces | 2,682 Ounces |
| Silver Produced | 73,859 Ounces | 53,190 Ounces | 127,049 Ounces |