Rochester Resources Ltd. (TSX-V:RCT) has entered into a joint venture agreement with fellow Vancouver companies E-Energy Ventures Inc. (TSX-V:EEC) and Cooper Minerals Ltd. (TSX-V:CQ) to develop Rochester's Mina Real Mexico CA de CV gold and silver project.
Under the terms of the agreement, E-Energy and Cooper will each earn a 10% equity interest in the project for funding $1.5 million of work commitments on the project and provide $1 million through a private placement.
In a letter to shareholders, Rochester said it plans to develop three of its mine projects simultaneously to achieve production.
Rochester's share price during the past week: between $0.17 and $0.22; 52-week high: $2.72; 52-week low: $0.13.