Topic: How To Invest

What are your thoughts on holding Roca Mines? Thanks!

Article Excerpt

Roca Mines, $0.61, symbol ROK on Toronto (Shares outstanding: 92.2 million; Market cap: $56.3 million), is mainly focused on its 100%-owned MAX molybdenum mine near Revelstoke, B.C. Companies either directly mine molybdenum or recover it as a by-product of copper mining. It is used to strengthen and prevent corrosion in steel. Tightening supplies pushed up molybdenum prices to over $45 U.S. a pound in mid-2005. But prices settled back to a 2006 average of $25 a pound. The metal climbed to $34 in early 2008, before the recession lowered prices to as low as $8 in early 2009. Molybdenum now trades at $14.88 U.S. a pound. Roca also owns interests in the Foremore and Seagold gold/silver projects. Both of these projects are in the Eskay/Iskut mining camp in northwestern B.C., along with Barrick Gold’s Eskay Creek mine and Novagold’s Galore Creek project. Roca and its partners continue to explore for gold and silver at Foremore. The company has hired Romios Gold…