Out of respect for Wolf's sell target of 1.66, I did some modest selling of RBY down to my core position. If RBY went down substantially, I would buy back that trading position. So looking at RBY with a more balanced position, my guess is that it was a mistake to sell any RBY. Mr Market knows something.
Wolf I sold 2,000 shares of RBY at 1.61 out of respect for your 1.66 target and also because it gives me a stronger inclination to hold my remaining 35,000 shares because my guess is that RBY is going to finally repeat the surge that made BIG profits for me the first time around(See my response to canines in winning the bet with him.
Thanks, Canines , for your "payment"! My claim to fame as a gold/silver investor rests on about 55 years of doing it and finding GG and Rob McQ early in the game. I still own 2,5000 shares of GG at a cost of less than$4 per share. I started following Rob as he invested in other gold stocks, but when he lead me into RBY, I felt that I had found the best way of investing into the best, high grade gold mining district(Red Lake), so I concentrated on RBY starting with 1,000 shares at 77 cents and then bought much more, then gradually sold until my final sale around $6.20(I stlll held 2,000 shares at 1.08).. BUT, as it went down, I started buying back WAY TOO EARLY. I would have done OK if I sold when Rob sold his RBY. But, I still felt that RBY was the best of the best and continued to buy more as it SUNK! Well, I believe RBY will reward me again because it is THE BEST of the BEST!
There is no doubt that Mr. Market is saying "Buy RBY" for whatever reason. In fact, it may be saying to warrant owners-"you are going to make money!"
Today may have been RBY's best performance- gold gets smashed, RBY down big early, but closes at its recovery high!!! Something is UP!!!
User, Thanks again for the court decision info. Bought my last 2,000 shares at 1.48 because of your info!
Thanks, DDD.... Combining Canada and the US, about 4 days trading volume to cover- not a huge short position, but enough for some sleepless nights for the shorts.
Pio, you are probably right, but the naked shorts still lose when RBY goes up, so they may be canceling their week end in the Hamptons!
Good for management- junking the sissy approach on this one. I anticipate apologizes from those who said that they couldn't comment on this!
If I had a large short position in RBY and I took a look at the Yahoo basic chart this week end, I would be in a panic mode! Does any one know how big the short position in RBY is?
RBY closes at 1.56, its recovery closing high and following its recent trading pattern, weak early, strong at the close. Also, the leader on my gold stock list. My guess, RBY shareholders to get cash and GG stock with a value of about $2.25, plus retain ownership of RBY with some cash and most of its properties minus Phoenix.. The market will probably value the offer at about $3.00.Then, to close the deal GG will offer an additional 25 cents per share. No inside info, but I have own GG stock for about 20 years and remember the Eleonore deal. Unfortunately, no competing bid.
Assuming the $12,000,000 is going to be used for other properties of RBY, the hiring of the VP-Exploration, the price action of RBY and the former GG TEAM which runs RBY, all indicate that an Eleonore type spin off involving GG as the owner of Phoenix is in the cards. Now that the Indian problem seems resolved, look for a deal soon..
No, their attorneys would not allow them to go that far! But, they contiinue to look like sissies with the "potential mine" nonsense. Yes, Ontario might suffer a nuclear attack which would stop all mining, but does GG use that language with all of their "potential mines"? I haven't seen it!
Mining Companies make many statements which the regulators would deem opinions covering themselves with the standard boiler plate which their attorney's prepare and which no one reads!