Barkerville Gold Mns Ltd BGMZF

RE:RE:RE:Wow. Rubicon trading down at 62 cents. Probably lower.

[halcro]

From Stockwatch: Michael Winship and David Beatty's Rubicon Minerals Corp. (RMX) slumped 33 cents to 67 cents on 27.1 million shares after Ontario's Ministry of Environment and Climate Change ordered the company to suspend milling at its Phoenix mine near Red Lake in Northwestern Ontario, citing elevated levels of ammonia and the need to "discharge sufficient water from the tailings treatment facility." The company has "made progress toward treating the elevated ammonia levels" and has "made it a priority to resolve these issues in a timely manner," says Mr. Winship, a director since 2011 and the company's interim president and chief executive officer. Mr. Winship's interim titles probably caught investors off guard, but within an hour of the company revealing its Phoenix woes, it said that its president and CEO, Michael Lalonde, had "left" the company.

Two years ago Mr. Lalonde said his primary objective was to make Phoenix "the best that it can be," but it appears he has run out of time. The mine poured its first gold in June but Rubicon has run into a series of commissioning and ramp-up problems that have delayed full production indefinitely. While it seems likely that Phoenix cost Mr. Lalonde his job, dissatisfaction with his performance is recent. Rubicon augmented his $510,000 salary last year with a $601,000 cash bonus and another $1.4-million in equity-based awards. While Mr. Winship will likely earn less than his predecessor, he should be paid considerably more than the $83,100 he received last year for director fees.

Gold Summary for Oct. 5, 2015

2015-10-05 21:01 ET - Market Summary

by Stockwatch Business Reporter

https://www.stockwatch.com/News/Item.aspx?bid=Z-C:*MKTGOLD-2315647&symbol=*MKTGOLD®ion=C