RBY - Rubicon Minerals Corporation

[thegreatgate]

Rubicon Minerals Corporation is a Canada-based mineral exploration-stage company that explores for commercially viable gold and base metal deposits. The Company selectively invests in other mineral exploration and resource companies. Its main assets are in the Red Lake gold camp, in the Province of Ontario. In addition, the Company has acquired land packages in Alaska and Nevada, United States. In February 2008, the Company re-acquired the Humlin Property.

Recent news:
Rubicon Says Gold Deposit May Rival Campbell Complex (Update1)
By Rob Delaney

Aug. 19 (Bloomberg) -- Rubicon Minerals Corp. Chief Executive Officer David Adamson said gold resources at the company’s Phoenix deposit in Canada may rival Goldcorp Inc.’s nearby Campbell mine.

“The size of the system we’re currently defining is as large as the Campbell deposit, and the Campbell system was producing for well over 40 years,” Adamson said in a telephone interview yesterday. “The more we drill, the larger this system gets.”

Rubicon and other gold producers aim to increase gold reserves and benefit from the precious metal’s price, which climbed 17 percent in the year through yesterday. Gold reached a record $1,033.90 in March 2008 and has gained for eight straight calendar years.

The Campbell mine, one of several that Goldcorp bought in 2006 for a combined price of $1.49 billion, has produced more than 11 million ounces of gold since 1949, said Gijsbert Groenewegen, a partner at Gold Arrow Capital Management in New York.

“Major producers need to replenish their pipelines and are constantly on the lookout for big resources, and the number of 5 million-plus ounce deposits worldwide is only about 40,” Groenewegen said. Gold Arrow holds 100,000 Rubicon shares and none of Goldcorp’s stock, he said.

Goldcorp, the world’s second-largest producer of the metal, produced 2.32 million ounces last year, according to the company’s 2008 annual report.

The Phoenix and Campbell deposits are located in northwestern Ontario’s Red Lake district. Rubicon is about halfway through a C$25 million ($22.6 million) exploration program at Phoenix, which will end in March, and has another C$35 million in reserve, Adamson said. The company’s largest shareholder is Goldcorp founder and former CEO Rob McEwen.

The Phoenix property may contain 3 million to 8 million ounces of gold, John Graham, a Macquarie Research analyst in Toronto, said in a note to clients yesterday. Graham initiated Macquarie’s coverage of Rubicon with an “outperform” rating and a C$5.50 target price.

Rubicon rose 4 cents, or 1.4 percent, to C$2.94 at 10:31 a.m. in Toronto Stock Exchange trading. The shares have more than doubled this year.

Snap of the chart at 11am today (looks gorgeous and a great industry):

[BadThad]

Great find, I'm in at 2.89! Nice combo of technical and fundamental here folks.

$3.15 is the only upper resistance I see, if it can break that it could really run. The news about the Phoenix mine only came out 3 hours ago....it could move this stock.

Thanks gateman!

[thegreatgate]

Sweet! I was actually just typing in the BQI thread and I was going to say: "BT, if you are not in BQI, stay out, BQI sucks. See the RBY thread, I think you will like it much better"

lol, I have been having bad luck today with RBY, my order is for $2.80 which I highly doubt fills today. If it doesn't fill soon, I'll up it closer to the hod (oh well, I've been chasing it all damn day anyway!) On a good note, nice bullish engulfing and huge white candlestick, pSAR just flipped.

Snap of the chart at 11:35am, 50dma at $2.85:

[BadThad]

Stock closed at 2.94, this might be an incher which is fine by me. At least the recent volume is heavy.

[BadThad]

Oh yea.....$3.10 right now!

[BadThad]

Bumped resistance at 3.18 today, stock currently at 3.12. Put in a limit order to sell at 3.18 just in case it gets there again, nice easy profit possibly today.

[BadThad]

Slowly slipping, sold at 3.05 for a painless profit. Thanks for the play!

[greencat]

RBY has a bullish flag pattern and looks ready to go.

RBY Chart

[greencat]

RBY has made an inverted head and shoulders pattern with the neckline break consituting a buy. Some resistance at $4.50 but I think it may blow threw it.

RBY Chart

[greencat]

RBY became a buy.