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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 May 31, 2012 7:35pm
257 Views
Post# 19968267

FROM 133 CBM TO 40-60CBM

FROM 133 CBM TO 40-60CBM

It has not been publicly explained, but I can see from their updated corporate pdf presentation that their projected volumes have been racheted down. Seeking clarification, I have emailed IR and have received the reasons why. I suggest you do the same. When gold prices go up big, we still could come to cash flow positive with what we have presently producing or being installed, as ruby has previously said cash flow positive was based on 500 oz/mo at $1500 with cash costs below $400/oz. When gold gets to $2000 (next 12 mo's?) and keeps on going, our breakeven monthly ounces decline. I see that our cash costs have now been increased to below $500 oz so that will also affect us to some degree. Point being we have a cash crunch that needs to be solved, and soon it would seem, but they are working on it. Stock  price this low doesn't help.

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