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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 Jan 10, 2012 7:41pm
230 Views
Post# 19388933

ruby gold bank?

ruby gold bank?

Rob and Toby actually did talk about hoarding the gold and getting bank loans against it for current ops due to everyone believing in  a long term rising gold price future. Dunno if this is their current plan or not, this was in a Chi mtg and much has changed since then. However, Eric Sprott has urged silver companies to do the same, with 1/4 of produx I believe. So it may possibly catch on among mining companies. Myself, I expect us to be rolling in riches which can't be profitably reinvested in the business as early as next year. No debt,  and with water being a limiting factor (at least in my mind) to reinvestment in mining equipment, the board is gonna have to decide on dividends, hoarding (cash or gold) expanding in TZ, or diversifying mine wise globally. I wonder if there are other alluvial projects of size and we could specialize in being the world's largest alluvial gold miner (we'll be that already in a year I'm sure) with multiple projects? Bob Moriarty says he's got alluvial holdings around the world. I know in the Junior mining space a one hit wonder is still not ideal  due to locale and gov't risk. Multiple projects in multiple locales is what the market likes. Sure would like to be in on board discussions of what to do with an embarrassment of riches!

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