"This first pouring of gold is a significant milestone for Rubicon," commented Michael Lalonde, President and Chief Executive Officer of Rubicon. "We would like to thank the Rubicon team for their dedicated effort in reaching this milestone. We would also like to thank our investors and stakeholders for their continued support, as we steward the Project towards projected commercial production."
The construction of the mill is now complete. The commissioning of the mill circuit continues with the processing of low-grade mineralized material. The Company expects the commissioning phase to be completed in early July. The initial 8,023 metres of planned underground development was completed on June 5, 2015. The Company plans to begin stoping on the 244- and 305-metre levels, following the completion of the commissioning phase. Our main objective is to optimize the stoping method and establish best stoping practices in a controlled environment before increasing tonnage towards permitted capacity. The information gathered from the initial stopes will allow us to better design and sequence future stopes.
This news release was a outright lie and is in total violation of disclosure laws. Lalonde not only needed to be removed as CEO of RBY, he needs to be prosecuted for his criminal actions
It is highly possible that the geological complexity coupled with the POG made this deposit impossible to mine in any type of cost effective manner. A total collapse of this sort was inevitable and explains why the smart money walked away from this venture years ago.
The past 4+ years have been nothing misleading PR's and smoke and mirrors tactics in hopes that the POG would continue to rise.