I will restate why I think he was very candid about his reasons for selling RBY.
First of all, the many OTHER irons he had in the fire... let's review...US Gold currently underway with 100K meters of drilling @ El Gallo and preparing a feasability study for 2011, plus work at Gold Bar and Palmarito in Nevada.
He has the Lexam/VG meger coming up, bought42% of VG in May and added $5 million into Lexam in September.
Minera Andes: He has costs associated with the JV with Hochschild, But his main focus is on Los Azules, which Minera owns "100%"... I say that because there is a lawsuit involving TNR about the status of their 25% "back-in" agreement with Xstrata on the northern part of Los Azules, as well as a heavy drilling schedule (3 drill) in preparation of a pre-feasabilty study there. To quote Rob from an interview in late FEBRUARY of this year, "... Part of the problem in the past with Minera was that it didn't have 100% of anything that was worked on. So my objective was to secure as many assets as we could, get 100%, and we could drive our future by exploring". That plan, including the heavy schedule at Loz Azules, also involves the properties of Telken, Martes and Celestina as well. So you see, I think he has told us everything right up front, and HAS been telling us, if we had the eyes to see it. RBY didn't fit into his management scheme, and had A LOT of the resources he needed to secure in order to enable his own managed projects to prosper. There really is no other explanation that makes as much sense.
IMO McEwens' announcement to the world that he would soon have an additional 190m in liquidity forced Hochschild to settle. This settlement came 4 days after the announcement. Coincidence. Fat chance.
Then Minera shares flew
Then he made the VG & Lexam deal
Then their shares flew.
He basically used the assets to, in the here and now, unlock huge gains on his other assets. Not bad. The only other tidbit I'd add is that I believe Rubicon may have said no to a friendly merger that Rob was dreaming up. Rubicon wants the glory and it's coming.
"Imho, he simply got out of the way to allow an acquisition to occur in the not to distant future."
Also...Mac knew the bulk sampling was coming. Why would he sell out in the same Q that the bulk sampling is due to be taken and the first legitimacy is given to resource estimate?
The bulk sampling is going to provide a hard floor on the acqusition price.
Two event move RBY's share price dramatically from here (following on Dennis Boyko's "Tipping Point" scenario): (1) the buyer of most or all of McEwen's position is revealed; and (2) the bulk sampling validates the 7M oz estimates that have been kicked about by analysts.
In the meantime, RBY is talking like they are going to mine it and go it alone entirely, which is exactly what a posturing CEO must due when he knows someone owns 21% of his company and is thoroughly kicking the tires. RBY is on a very tight time frame here and the 'tipping point' is fully in play.
The stock price is being very carefully managed here in the meantime. So many cards yet to be turned over on this hand, but the flop, turn and river are going to be quite good for RBY. When the Rubicon River card is turned, all longs can pick up great amounts of chips.
"The stock price is being very carefully managed here"
Where is the evidence for this? It simply looks like there is not much buying interest for RBY. Down days come with volume, and up days are usually light and the price tends to erode as the day wears on. How is this stock being manipulated, I don't get it. Analyst are starting to ratchet up their estimations for oz count at F2, and yet still no buying interest exist. We have analyst saying 4 - 7 million oz now, and nothing . . .