RCKE News Rock Energy Resources Announces the S
Post# of 144481
RCKE News
Rock Energy Resources Announces the Sale of Gold
2012-10-15 07:15 ET - News Release
HOUSTON , Oct. 15, 2012 /PRNewswire/ -- Rock Energy Resources, Inc. (OTCQB: RCKE) today announced that as of October 12, 2012 , gold sales have commenced. Sales: Sales are expected to continue on a weekly basis. We delivered 340 grams (31.1 grams per troy ounce) of gold and valuable metals to David H. Fell Co - AZ, Inc. with which we have entered into a long term sales agreement. Those quantities were produced from a single 10 hour shift post our solving our refining issues. The price paid is spot (market lock) minus 1.75%. The assayed breakdown for the 340 grams was as follows: Gold 80%; Silver 16%; Copper 2%; Nickel .5%; Platinum .2%; Misc. 1.3%. Refining and Inventories: We have all of our refining equipment in place and expect in the next two weeks to be running two shifts per day. We currently have over three tons of concentrate ready for final processing along with over 1,000 tons of high grade ore available for milling. Mining and Milling: We are currently mining at expected levels from the first stope. We have begun the development of a second stope and anticipate developing a third stope before year end. Currently we are milling around 8 tons per day and will be increasing this in the coming weeks. We are posting monthly recaps on our website at www.americanpatriotgold.com .