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Bullboard - Stock Discussion Forum 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... see more

GREY:RBYC - Post Discussion

Ruby Creek Resources Inc > Trustworthiness
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Post by dunkindonut on Jun 04, 2012 8:55am

Trustworthiness

The countless statements up to this point  made by management, including  Investor relations, has been

recklessly optimisitc and should not be believed. Other posters have used these statements to base their

production and profitablility projections over the last two years. It is time for the company to start releasing more realistic information on a timely basis or no investor will believe any of their "future forward looking statements".  At this point it is not known what production there will be, what the grades are or what the recovery percentage will be from the sand. A small company like this has their good name as a vehicle for investor confidence. It has lost it. It is time for ruby creek to stop hiding behind their forward looking statement disclaimer and file some actual figures of what they have mined, so at least the grades can be determined.

If the grades are below .3 g/t then, the game is basically over. ( unless they were to find higher grade- but when and where?)

Comment by Yukon_Cornelius on Jun 04, 2012 9:13am
"If the grades are below .3 g/t then, the game is basically over. ( unless they were to find higher grade- but when and where?)" I believe the grades where the production is ongoing will exceed the 43-101 'official' .3 Also, that was for the Mkuvia property. I don't even know what the Gold Standard number is. Anyone? In general with alluvial, the grades will be widely variant ...more  
Comment by dunkindonut on Jun 04, 2012 9:47am
The grades are known by the company. Any engineer or miner worth his weight in salt would have tallied the amount the trucks have been bringing to the wash plant over the last three months and determined the grades by the amount of gold recovered. The recovered grades could be low simply because of inefficiencies of the not yet perfected recovery system, but the grades are known to the company ...more