And comes in at #8 in the world. http://www.visualcapitalist.com/portfolio/global-gold-mines-and-deposits-ranking-2012
scroll down to the section that shows deposits by grade.
Excellent find, Sewells! This info is even more impressive when you consider the fact F2 probably has a much larger deposit than it's presently being given credit for. It would be interesting to see a comparative value analysis of RBY vs. the other high grade deposit holders on this list.
It was a wonderful remark, bogfit, and I agree with your message wholeheartedly.
I may only add that current depression in PM sector still makes some room (besides stock-specific factors) to have "fair value" higher than $3, imho. Frankly, I didn't run RBY numbers for my version of valuation for long time; it is a lower-risk investment anyway.
There are 3 undeveloped deposits ahead of F2 on this list. One in Russia, one in Indonesia. No thanks.
The Pretium mine looks good, but does not have the Archean rock upside potential.
I think what we need to consider about F2 being ranked #8 is that RBY hasn't even defined a boundary for the deposit. I'm assuming its going to take years & years of drilling and producing to really understand what is in the ground. Being ranked #8, this early in the process, is just fine by me.
Personally, I am thrilled with our new CEO, his knowledge of red lake and his mining experience is exactly what we need. Kido's to Adamson for stepping aside and bringing in such a qualified person to lead the company. While I still believe a buyout is the most likely outcome here, I for one would like to see the company stay independent and mine F2.
Actually Apollo drilled at Black Fox over 8 years. I don't know when (you don't bother to specify), or at what stage of exploration you did your "research" but the mine was totted by the CEO in 2005, accepted by 99% of the message board, and promised by the board's "expert" who crawled over the drill results in minute detail, as a "world class mine". I raised the same concerns about the difficulty of establishing grade in coarse gold deposits and got the same crap from the Apollo cheerleaders then, as I get from you now.
Your claim that " Anyone who bothered to run the numbers on the drilling for themselves knew that at the time." is total BS, which however for you is certainly not novel. I know what went on in that company because I was on its 2 boards daily. Did I mention I had a 6 figure position in the company? While you claim to "remember running the average weighted grade and widths at Black Fox and looking at the stripping ratios"! Sure you do! I think the only analytical view you ever gained was through hindsight. Besides, you weren't even into gold stocks in 2004!
Sometimes I even wonder why you bother.
No I respect you for being long Rubicon. But your posting shows you to be plagued with doubts - for example you don't seem to understand that people trade a stock for all sorts of reasons - most quite normal. I own Rubicon, in fact I have told you this already possibly more than once. I don't have as many shares as you and am seriously down on my position but I hope to make a lot of money by holdimg well past production - a lot of money
Inspire to become a gambler? Awhh...now that reminds me of a song..LOL...
Looks like he gambled for sure....with a plastic surgeon....see what gambling done for him?LOL.
Well, you are right I didn't look at it in 2004. I only started looking at in late 2007. However, the drilling results are available on SEDAR going back for several years. Search on Sedar for Apollo Gold and you will find them. So, it's really not very hard to do the analysis, as it would have been done at the time, and see what I say was true.
I'm sorry you screwed up on Apollo. But, if you hadn't been lazy, if you had run your own numbers on the drilling, you would have known it wasn't all that.
Let's see if I have this right now. You are telling me that if I go back and do some research on some unspecified year of Apollo drill results, that I will prove your otherwise totally unsubstantiated claim of completely clear and accurate analysis, of which you know of no particulars today as to date or findings or nuthin'? LOL That's funny!
I sold out of Apollo when I found out the CEO lied about the business model and he gave away the Nevada operations that was to finance Black Fox exploration. That was a couple of years before you supposedly took a first look. Obviously, or to most reasonable people, there was no reason for "lazy" old me to "run your own numbers on the drilling" in 2007. Duh!
And in case you missed it the first time, THE CEO LIED! If that sounds like I "screwed up", you know like tossing 27K on a hunch, well I'm not surprised you don't know the difference.