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Ruby Creek Resources Inc RBYC

Ruby Creek Resources Inc. is engaged in developing a gold property. The Company's project includes the Gold Plateau Project. The Gold Plateau Project consists of property, which has artisanal gold mining activities. The Gold Plateau Project is located in southern Tanzania approximately 150 kilometers north of the Mozambique border. The Gold Plateau Project consists of around 15 properties of prospective gold mineralized territory. The Company has mining and processing equipment onsite and additional processing equipment. The Gold Plateau Project is situated at the eastern margin of the Selous Basin where the Karoo and young sedimentary rock are in fault contact with low to high-grade metamorphosed rocks of Neoproterozoic age belonging to the Mozambique Belt.


GREY:RBYC - Post by User

Comment by mermooon Sep 19, 2011 1:15pm
111 Views
Post# 19057791

RE: "The minister is unavailable"

RE: "The minister is unavailable"Sorry I was away for the weekend.  Last I heard they were increasing the tax from 3 to 4%.  However, as early as June they were discussing a supertax on mining to raise funds.  There is a lot of pressure against it but there is still discussion.  The last budget from June did not include the tax.  If they do implement I still think Ruby will do well but it is still something that people who are investing should be aware of.  I did note though that they are trying to get the mining companies to pay corporate income taxes.  Resolute mining is already paying the corporate tax of  rate of 30% (of course that is on profit after all the tax deductions are figured in)  resolute (ticker RSG in Australia) trades at $1.60 with about 50 million shares outstanding.
Again invest where you feel secure and as you already know research anything you invest in.$
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