Michael Smedley DON'T BUY Rubicon Minerals Corporation RMX-T 3.760 Expect it has a 5 million ounce deposit but probably the high grade is much smaller than what has been suggested. Expect this is the reason for the weakness in the stock.
It's interesting that the only posts you make for multiple stocks are buy and sell recommendations. Somehow, I don't think you're doing it for others' benefit. Based on this sell rec for RBY, you indicate a sentiment of "Strong Sell." Do you post recommendations to help your positions? Go short prior to posting a sell rec and buy before posting a buy rec? Do you already have those positions?
His comments remind me of the question: " How big is a grey suit". Interesting that he feels intuitively he knows more about the resource than the folks that are planning the drilling program trying to delineate it. And, what
his his expectation re overall resource size. I assume someone asked him, and when he doesn't know, or isn't up to date or speed on a company he spouts off
some pontificatory BS designed to keep him from looking the fool, which he seems to have already acomplished with this wardrobe.
Totally worthless comment.
Here's the clip. http://watch.bnn.ca/market-call-tonight/may-2010/market-call-tonight--may-27-2010/#clip306850
It's about 11 minutes in that he talks about RBY. I listened to the entire hour of the coverage with him. I wanted to get a feel for how he thinks.
Of necessity, some of what I'm going to say here is subjective. Listen to it for yourself and draw your own conclusions.
First, it's clear this guy is sharp. He's no lightweight. He's reasonable. But, the most uncertain I saw him in the whole hour was when he was talking about Rubicon. I think he was grasping for a way to explain the recent weakness. What he said wasn't unreasonable but I don't think he had a lot of confidence in what he was saying about RBY, as opposed to his positions on other things he talked about.
There is a sense in which what he said is true. F2 is NOT another GG high grade zone. At least not yet. As they drill deeper, it may or may not be. But, if you listen to his reasoning vis a vis what trend things are on, he is making a distinction that may or may not be tenable. Anyway, listen to it for yourself and don't listen just to the Rubicon comments. Listen to how he talks about several other companies too. See if you agree that his level of uncertainty was much higher when he talked about Rubicon.