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Jbay76 (< 20)

Rubicon Soaring

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November 29, 2010 – Comments (7) | RELATED TICKERS: RBY

Today is a good day for those of us who own shares in the Canadian gold miner Rubicon.  With the release of good news announcing a 4-million ounce inferred gold resource estimate grading 20.1 grams per ton of gold at its F2 Gold System, part of its 100% owned Phoenix Gold project in Red Lake, Ont., shares are up 30% plus.....  Not a bad way to start the week....

 

The inferred mineral resource estimate was prepared by Geoex Limited. ("Geoex") based on 166,886 metres of diamond drilling in 237 drill holes carried out between February 27, 2008 (the date of the initial discovery) and July 31, 2010. The estimate does not include approximately 41,702 metres of drilling completed since July 31, 2010. The inferred resource estimate was prepared using the polygonal calculation method (see below for details) which, in the opinion of Geoex, is the appropriate method and is typically used for this type of deposit. The cut-off used is considered to be an economically reasonable estimate of breakeven mining costs.

"We are very pleased with these initial results. They demonstrate that the F2 Gold System is already a significant sized gold deposit. Importantly, the gold grade of 20.1 g/t gold is high compared to most major gold deposits around the world and is consistent with the overall Red Lake camp average grade, which is Red Lake's key advantage. Our objective now, through our ongoing delineation program is to upgrade part of this large inferred resource, move towards development and to continue to expand the gold system. Underground development on the project has already cross-cut mineralized zones at the 305 metre level and delineation drilling is underway. Photographs of the new zones are available on the Company website at www.rubiconminerals.com." stated David Adamson, President and CEO.

 

for more read here...

http://www.marketwatch.com/story/rubicon-announces-40-million-ounce-inferred-gold-resource-estimate-grading-201-gt-gold-059-ozton-gold-at-its-phoenix-gold-project-red-lake-ontario-2010-11-29-10200?reflink=MW_news_stmp

 

onwards and upwards...

 

7 Comments – Post Your Own

#1) On November 29, 2010 at 12:06 PM, Jbay76 (< 20) wrote:

Why cant TMF block spammers like Xiaochengyang and other spammers trying to sell their wares?

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#2) On November 29, 2010 at 12:17 PM, silverminer (31.22) wrote:

And for anyone who paid attention to my tip from 3 weeks ago ... you're welcome. :)

http://www.fool.com/investing/general/2010/11/08/bernanke-fires-stage-two-of-the-gold-and-silver-ro.aspx

"Those searching for outsized gains that have yet to materialize may wish to give gold explorer Rubicon Minerals (AMEX: RBY) a close and timely inspection. Rubicon is a top-ten holding of the new ETF, and has been discovering ultra-high-grades of gold within the F2 gold system of its Phoenix project in Red lake, Ontario, throughout the several years that I have held the explorer's shares. At long last, the company is preparing to release an official resource estimate for the F2 deposit sometime in November, and I suspect the market will be pleased with the scale of the deposit once revealed."

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#3) On November 29, 2010 at 12:22 PM, Jbay76 (< 20) wrote:

Sorry, I should have mentioned thanks to you Sinch for brigning RBY to my attention...my deepest apologies!  Your analysis is spot on!


And thanks TMF for removing the spammers!

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#4) On November 29, 2010 at 3:08 PM, ParaSwarm (< 20) wrote:

Woohoo.  Dumped all my shares today.  Though I wonder if I should have held onto some.

  I've been burnt too many times by RBY rising and falling, and my unwillingness to sell it...   now I finally take the leap and I just know it's going to give me heartburn down the road. Oh well.

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#5) On November 29, 2010 at 4:08 PM, PhulishMortal (< 20) wrote:

I hedged my bets on this one, ParaSwarm. I don't hold the actual stock yet; I held call options at 2.50 and 5.00, so I sold the 5.00 calls and retain the 2.50 ones.

I may yet regret selling those calls -- RBY looks to me like a solid company -- but I have eaten too far into my financial cushion and I'm trying to get back to where I need to be.

 

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#6) On November 29, 2010 at 5:55 PM, ParaSwarm (< 20) wrote:

I hear you on that one buddy.

I definitely plan on keeping an eye on RBY in the years to come. These guys are going places.

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#7) On December 01, 2010 at 10:21 AM, bulryder (< 20) wrote:

If you like Canadian miners [junior] take a look at rainy river resources [RR.V] Drill results are fantastic,500 meters from a major hwy and hydro so infastucture is not a problem.Even gold at $600 would be extremly profitable.I picked it up for $4 in feb\10 ,it is now trading appr $13.They have no dept and @70 million in the kitty.I cant wait for them to start producing.I also like rare earth minerals[RA.V] another CDN junior.At 35 cents I already have a double.Take the time to check them out, it might be worth your while.What a day in the markets,green across the board.Does life get any better.

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