ROCA Reports Third Quarter Results

About this update from Rok Resources, Inc. Class B

[{"type":"text","content":"\n\n\n\n\n\nTSX.V: ROK\n\n\nVANCOUVER, July 29, 2011 /CNW/ - Roca Mines Inc. (TSX-V: ROK) (\"Roca\" or \"the Company\") has released its financial results for the\n three and nine months ended May 31, 2011. All dollar amounts are stated\n in Canadian dollars unless otherwise indicated. The information in this\n news release and the selected financial informationshould be read in\n conjunction with the interim consolidated financial statements, and\n management discussion and analysis, for the period ended May 31, 2011,\n which will be available at Roca's website at www.rocamines.com.\n\n\nDuring the nine months ended May 31, 2011, the Company recorded\n production revenues of $853,628 (2010 - $13,410,199) and a net loss of\n $3,269,580 (2010 - $1,884,872). In the current year, the MAX molybdenum\n mine and mill operated for only a small portion of the operating period\n (16 days) and incurred temporary shutdown and rehabilitation costs of\n $2,182,542 (2010 - Nil). The Max Molybdenum Mine has had a sustained\n shutdown due to instability that occurred in September of 2010. During\n the nine months ended May 31, 2011, crews conducted significant\n rehabilitation work at MAX along with geotechnical investigations to\n assess conditions and plan new mining activities.\n\n\nSummary Consolidated Statements of Operations and Loss\n\n\n\n\nThree months ended May 31, 2011\n\n\nNine months ended May 31, 2011\n\n\nTotal Revenues\n\n\n-\n\n\n853,628\n\n\nCost of sales\n\n\n-\n\n\n(1,149,057)\n\n\nDepletion, amortization, accretion\n\n\n(9,307)\n\n\n(127,028)\n\n\nMining Loss\n\n\n(9,307)\n\n\n(422,457)\n\n\nTemporary shutdown and rehabilitation costs\n\n\n(736,954)\n\n\n(2,182,542)\n\n\nGeneral Administrative\n\n\n246,035\n\n\n841,881\n\n\nLoss from Operations\n\n\n(992,296)\n\n\n(3,446,880)\n\n\nExchange gain (loss) and other income (loss)\n\n\n(4,688)\n\n\n177,300\n\n\nNet Loss for the Year \n\n\n(996,984)\n\n\n(3,269,580)\n\n\nLoss per Share - Basic and Diluted\n\n\n(0.01)\n\n\n(0.03)\n\nROCA MINES INC. \n\n\n\"David Skerlec\"\n\n\n\n\nDavid J. Skerlec - Chief Financial Officer\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider\n (as that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release.\n\n\n\n\n\n","length":3753,"tagName":"div"}]

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