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Rochester Resources Ltd. (RCT.V)
TSXV - TSXV Real Time Price. Currency in CAD
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can someone explain the sudden increase over the last 2 days?
Report due end of October 2020. The price of gold averaged over $1900 for the last quarter. Let's see to what degree RTC can take advantage of that. Also, the price of gold will probably move up a bit more when the US finally gets together on another, significant stimulus - somewhere between 1.5 and 2.2 trillion... An unprecedented amount of increase in US debt - looks like a total of 5 trillion-plus in less than a year... Got gold?
The 1st quarter report is out. No surprises except overall production was up 20.7%. Costs were down a little bit. Profit per ounce was about US $450 per ounce. They produced 1159 gold equivalent ounces for over a half million in profit. Income per share was positive for the first time in many quarters: $0.05. They reported purchasing a truck and front end loader for more than the profit they made. We should look for production to go up as a result. Nice to see the capital put right to work in growing the income. With a growing price of gold they will be able to do more for themselves. At these prices, not too bad of a spec, (IMO.) They just have a lot of debt, but a low float, only 23+M shares out. Of course there's more to RCT... Check it out on SEDAR.
Should be a report in a few weeks. They ought to be looking a lot better than what was is the past... The rise int the POG means more to them than most. They really need the capital. Maybe they restart the expansion by finishing the 10 x 10 mill?
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