Eric Sprott’s Sprott Asset Management Cut Its Stake in Rochester Resources

Eric Sprott’s Sprott Asset Management disclosed its 2.6% passive stake in Rochester Resources Ltd. (RCTFF) today. According to the firm’s filing, Sprott Asset Management now remains 3.54 million shares in RCTFF in its portfolio. This is the only related filing after the firm reported 13.08 million shares in the stock on January 24th, 2011. Sprott Asset Management has invested in RCTFF since 2009. RCTFF is traded in OTC market. It has dropped 67% in 2011, and is priced at $0.028.

Sprott Asset Management is under Eric Sprott, who is the Senior Portfolio Manager of the Sprott Canadian Equity Fund, Sprott Hedge Fund LP & LP II, and Sprott Bull/Bear RSP Fund. He has a portfolio value of more than $1.1 billion, eighty percent in which are invested in Basic Materials sector.

Rochester Resources Ltd. is a Canada-based company. The company is a junior gold/silver producer engaged in the production, exploration and development of its Mina Real and Santa Fe Properties located in the State of Nayarit, Mexico. The Mina Real Property is a producing gold and silver mine. The Santa Fe Property is an exploration property. The Company operates through its wholly owned subsidiary ALB Holdings Ltd, its 80%-owned subsidiary Mina Real Mexico S.A. de C.v. and its 56%-owned subsidiary Compania Minera Santa Fe S.A. de C.V.

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