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| | Mon Apr 4, 2011
ROCA - MAX Molybdenum Mine Production Schedule
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| | Vancouver, British Columbia: Roca Mines Inc. (TSX-V: ROK) ("Roca" or "the Company") announces that it has advanced its geotechnical work and development/operating plans for the MAX Molybdenum Mine and is targeting June 2011 to restart production.
In addition to rehabilitation and general maintenance at the site, a geotechnical program to survey the existing stope and mapping of other workings has been completed. The preparation of a monitoring program based on this work is nearing completion and will enhance existing geotechnical monitoring. Data collected to date shows no changes to the stability of the workings or mine access. The monitoring program and amended mine plan will be submitted to BC's Chief Mines Inspector shortly for a final review.
In parallel with the activities described above, the Company has been working with its various contractors to establish mobilization dates for critical path work in April. These tasks include stope development and long-hole production drilling prior to restarting production. In addition, various contractors are reorganizing staffing and management for the mill and other operations at site. The mining industry is currently extremely competitive for services and personnel and the Company is pleased that its contractors and staff are able to deliver in a timely fashion.
The Company is also currently reviewing its alternatives to fund the current working capital requirement to restart the mine and an update on this plan will be provided shortly.
Management's goal to restart production at the MAX molybdenum mine and to advance its permitted 1,000-tonne-per-day expansion plans will reduce unit costs and preserve the opportunity to produce concentrates in an appreciating price environment. Molybdenum oxide currently trades at approximately US$17 per pound.
ROCA MINES INC.
"Scott Broughton"
Scott E. Broughton, P.Eng. -- President and CEO
For further information contact:
Tel: 604-684-2900
Fax: 604-684-2902
Email: [email protected]
Web: www.rocamines.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
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