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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

Post by jongguaon Oct 23, 2011 8:19pm
274 Views
Post# 19174537

questions from dlkm 10q

questions from dlkm 10q(ii). The Company has not yet received the $450,000 subsequent option payment (iii) as of October 21, 2011 which is overdue and the agreement is in default. The Company is currently investigating through local counsel the registration particulars of prospecting licenses numbered 5664/2009 and 5669/2009, which form a part of the current Joint Venture Company project. This investigation relates to the reported registration of prospecting licenses numbered 5664/2009 and 5669/2009 to a third party without the Company's approval, in unclear circumstances why hasn't rbyc paid the next payment due 6/11? what is going on with 2 prospecting licenses being registered to another party? i remember dlkm lost much of their former properties when they were just sold and resold endlessly to others, resulting in no actual holdings for dlkm. however, I seem to recall rbyc saying they had the most secure holdings, registered with the TZ govt.
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