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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 Jun 02, 2012 12:11am
326 Views
Post# 19973754

why reduced volumes

why reduced volumes

Johann Coatzee and Rob Slavik believed they could get 200 ton/hr (Ruby was using 2/3 of that for cbm) from the 3 trommels they had bought in Songea and also the one in 2010, so their prior projections came to 133 cbm/hr. This would take them to great eps at .5 g/m3. However, the 3 trommels together are now believed to only produce 40-60 cbm/hr. At .5 g/m3 and $1500 this will NOT make us profitable. At higher prices and 2 shifts a day, 15 net hours of production, 60 cbm/hr can get us to cash flow positive. Also, Rob bought the 2 other trommels in Songea very cheaply, but they were not in place this fall and so we've missed nearly a whole year of production from these other 2. I believe one of them is too small to work on its own, and also their earthmoving equipment is breaking down and not quickly repairable, nor is it enough to feed the trommels adequately. More money is needed for more trommels, and bigger ones, and also for better and more repairable earth moving equipment. 

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