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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

Comment by mermooon Feb 07, 2013 3:59pm
193 Views
Post# 20954495

RE: moolah

RE: moolah

 

Well, it may have been a combination of both that did us in.  Any company has a finite amount of resources and those resources should be tallied and considered in any long-term strategic plan.  Ruby Creek burned through a lot of cash buying equipment, land, etc… but left themselves a bit short of being able to actually achieve production. 

I noticed in the PR it said that Rob was financing some of the operations himself while the company transitioned to new management under him.  This would indicate he has at least some backers that were supportive of him.  Maybe funding sources dried up when he left the company and that created an unexpected shortage.  Time will tell what the answer is.  Good Luck Ruby Creek.

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