Rocky, I'm curious to know what your return has been on Rob's ventures over the past 25 years. I see where in past years he has benefited personally from his his returns on investments like RBY, but I see little evidence that he has made any money for shareholders in his mining ventures over the years. MUX has certainly been no exception for long term investors. Mining is an extremely challenging business and even a guru like RM has had a difficult time generating any kind of profits (not to mention dividends) from his minig ventures.
Even if RBY did pretty much mirror the performance of the GDJX over the past years, what does that tell you about this one-of-a-kind, world class F2 producer that is sitting on over 10 million oz of gold.
Gold mind you, that literally waiting to jump out of the ground and be produced at the mill that will start-up and perform perfectly to the tune of only $850 or less for each once of gold produced.
It pretty much tells me that there have been plenty of experts in the industry that have reviewed the data on RBY and decided that it's really just another run-of-the-mill miner.
gmm, you would certainly qualify as the posterboy for foolish investing. It would be one thing to put 10% of your investment holding in a speculative venture like RBY. To put any more that that into one company and then promote it as anything other than a risky and speculative gamble that should be avoided by most is shameful.
To overestimate RBY is what is absurd.
All excellent points. The strength of the dollar, the lack of interest in the safe haven properties of gold, and India's waning interest in gold will all continue to suppress the POG. This along with RBY managements lack of evidece that they can meet deadlines or bugets should lead most to ask "Why buy RBY now?".
Fattieboy is just another example of how you can fool some people part of the time, but you can fool mining investors pretty much all of the time. Gotta love all that SP "appreciation" in RBY these past 5 years.
What was that Mark Twain quote about gold miners again?
You might want to set down that big bag of Cheetos heavyfatboy and look at a 5 year chart for RBY before you open that big fat yap of yours. RBY's been in a steady decline for the past 4+ years now.
The dynamics of investing have changed dramatically in the past 7 years. Investing in gold and miners may have seen the most dramatic changes. I think retail and institutional ownership will continue to decline until changes are made to create a more judicious market system.
As for RBY, it will not prosper unless the POG stays at $1300+. Even then, management will need to execute and communicate better than in the past.
Park is absolutely delusional. Production is still a year off and costs are projected to run around another $140 million for capital improvements leading up to production. That amount still does not take into account administrative cost and other strart-up costs.
Production and dividends in a couple of months? The foolishness put forth by some on this board is truely astounding.
This is a much more likely scenario.
The next question then becomes one of how long will their capital hold out? I still contend that their current capital position will not be enough to carry them thru to the point of profitable production.
At least you got the "Mid 2015" part of your post right this time. Now the only question becomes can RBY management actually meet a projected timeline or budget? History has shown that those chances are slim to none.
Sorry to disappoint but the PR states "mid 2015" not "early 2015" which more than likely means they are at least 1 year out from any kind of production.
The Aden sisters, now there's some credible commentary. They along with all the other clueless analysts over at Kitco are a pitiful bunch. After 4 years of mindless blather the markets continue to make them look foolish. Hard to believe anyone takes their commentary seriously.
Here's another fact. Due to one or more of the aforementioned facts, RBY traded down over 8 1/2% today to close at $1.27.
It is highly likely that RBY will go even lower (I thought you'd enjoy that nontautological truth)
I prefer to rely on the facts that have presented themselves thus far regarding management, grade issues, and POG when it comes to investing in companies like RBY.
You could have simply stated that you like to rely on self asuming predictions and theories instead of facts.
I notice not too many investors share your position.
Pio, your track record as well as the biased sources you refer to reveal you as nothing more than narrow minded goldbug cultist. Your opinions and those of your sources fly in the face of reality and are only embraced by other narrow minded cultist.
By the way, wasn't the dollar supposed to be in the low 70 range by now along with a 10 year bond yield at 5%+.
Those were just a couple more of your predictions that continue to make you look foolish.