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Romarco Minerals Off 6.4% Today But Looking to Set Session Floor After Project Update

Romarco Minerals Inc. (R.TO) appears to forming a floor around $1.62 a share, down 11 cents, after saying it has 80,000 meters of drilling planned for the second half of 2011, with about half of the scheduled work directed toward the company's Haile gold mine project in South Carolina ahead of the company completing a NI 43-101 compliant resource estimate before the end of the year.

Romarco said it completed about 92,000 meters of drilling during the first half of the year, in line and within budget for the work and a 77% increase over year-ago activity.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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