Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 Public_Heelon Oct 12, 2011 10:14am
110 Views
Post# 19140669

RE: Public Heel.....

RE: Public Heel..... If you'll bother to read my posts, I think you will see that I have not been inconsistent. The license for the Gold Standard property came as part of the purchase. You and I and everyone else assumed that Ruby already had that license. If that were not the case, if more than a couple of people had been surprised, then the stock price would have jumped far more than it did. What I've been waiting for - and complaining about - is the license for Mkuvia. You do understand the difference between Mkuvia and Gold Standard, I hope? Mkuvia was the original property. Mkuvia was what the RBYC speculation was built on. Mkuvia was where the sampling was done. What's Gold Standard? It's an adjacent property that Mkuvia got for a song. Why? Why would an experienced operator, who knows far more than you or I, who had machinery on site, had obtained a license, had started work there, sell out so cheaply? Maybe he was wrong to do so. I hope he was. But to assume that he was, to bet a lot of money on that, is simply foolish...... So I come back to Mkuvia's license. For a couple of years now it has been "any time now". Sorry, but I've seen that kind of thing before, from Peru to Romania, and it's a red flag the size of handball court. If Mkuvia (and adjacent properties) are anything like what we hope they are, they are enormously rich, a mini-Witwatersrand, if you will. Why on Earth would Tanzania allow a handful of North American operators to just waltz in and cart away all that gold? Why would Tanzania allow those North Americans any more than just enough to keep them working? Third World countries all over the world have mastered the art of squeezing the golden goose just hard enough to avoid killing it. The putative terms under which Ruby would be mining are just way too generous. Will the Tanzanians wake up and make Ruby pay through official channels (royalties and taxes), or will they want their money under the table? If the latter, then any major gold miner, and any number of amoral and unscrupulous Chinese, have a huge advantage over Ruby...... OK, Jonggua, your turn, now.... :)
<< Previous
Bullboard Posts
Next >>