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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... see more

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Ruby Creek Resources Inc > gold majors valuations

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Post by jonggua on Nov 30, 2011 2:46pm

gold majors valuations

" Gold mining stocks are trading at their cheapest level in at least nine years even as the industry’s profits are estimated to almost double this year and bullion trades close to its historic high.The benchmark NYSE Arca Gold BUGS Index that includes Barrick Gold Corp., Newmont Mining Corp. and AngloGold Ashanti Ltd. ended last week at 17 times earnings, the lowest since at least November 2002 and below a five-year average of 37 times. "But gold juniors have and can be valued at silly multiples of eps during market routs and times of disfavor. witness mmtfm monument mining, with a current pe of 2.5!

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