Gold miners Rubicon Minerals (AMEX:RBY), Exeter Resource Corp. (AMEX:XRA), Yamana Gold, Inc. (NYSE:AUY) and Northern Dynasty (AMEX:NAK) surged on Tuesday as gold prices rose to $1,455.50 an ounce to reach a record high.
Gold for June delivery was up $19.50, or 1.4%, to $1,452.50 an ounce on the Comex division of the New York Mercantile Exchange.
Continuing unrest in the Middle East, the EU sovereign debt crisis, Japan's struggle and political uncertainty in the United States is the major impetus behind the action.
The inevitability that Federal Reserve Chairman Ben Bernanke won't stop printing money is also a major part of the continuing rise in gold prices.
Rubicon Minerals closed Tuesday at $5.51, gaining $0.35, or 6.78 percent. Exeter Resource Corp. closed at $5.47, rising $0.32, or 6.21 percent. Yamana Gold, Inc. closed at $12.96, up $0.63, or 5.11 percent. Northern Dynasty ended the session at $15.74, increasing $0.39, or 2.54 percent.
Showing posts with label Rubicon Minerals. Show all posts
Showing posts with label Rubicon Minerals. Show all posts
Wednesday, April 6, 2011
Tuesday, November 30, 2010
Rubicon Minerals (NYSE:RBY) PT Raised on Phoenix Gold Deposit
Rubicon Minerals (NYSE:RBY) has justifiably received a lot of press lately on the news of their high-grade resource estimates in connection to their Phoenix Gold Project, which the 100 percent own.
TD Newcrest said, "The initial estimate outlined a significant, high-grade deposit, in our view, that markedly exceeded our modeled resource inventory of 3.0 mm ounces (6.4 mm tons grading 16 g/t)."
They maintain a "Speculative Buy" rating on the company.
Rubicon was trading at $5.83, down $0.21, or 3.48 percent as of 12:13 PM EST. TD has a price target of C$10.00 on them, raising it from C$6.00.
Trading volume is almost four times the usual daily 3-month average.
TD Newcrest said, "The initial estimate outlined a significant, high-grade deposit, in our view, that markedly exceeded our modeled resource inventory of 3.0 mm ounces (6.4 mm tons grading 16 g/t)."
They maintain a "Speculative Buy" rating on the company.
Rubicon was trading at $5.83, down $0.21, or 3.48 percent as of 12:13 PM EST. TD has a price target of C$10.00 on them, raising it from C$6.00.
Trading volume is almost four times the usual daily 3-month average.
Thursday, May 27, 2010
Rubicon Minerals (AMEX:RBY) Announces Gold Discovery
Rubicon Minerals Corp. (AMEX:RBY) (TSE:RMX) is up over 10 percent today as they announced a gold discovery in the Red Lake Gold District of Ontario, at their Phoenix Gold Project.
The Phoenix Gold Project is 100 percent owned by Rubicon, adding to the potential value of the discovery for them.
They desribed the actual discovery this way: "...results from drill hole 305-05 at its 100%-owned Phoenix Gold Project. Reported lengths are thus interpreted to be true thicknesses. The hole intersected 1.24 oz/ton gold over 22.6 feet (42.5 g/t gold over 6.9 metres) part of a broad vein zone grading 0.59 oz/ton gold over 49.2 feet (20.1 g/t gold over 15.0 metres).
"This is a very important as well as impressive drill hole. It demonstrates excellent horizontal thickness and outstanding gold grade in the F2 Core Zone and is significant from a potential mining standpoint. Drilling to date extends the F2 Core Zone vertically for at least 1968 feet (600 metres). This suggests significant tonnage potential can be developed in this zone alone, which is only one of numerous zones we have discovered to date within the F2 Gold System. We are excited to have commenced drifting and we look forward to seeing the F2 Core Zone up close underground. In the meantime, we have a total of six rigs exploring the F2 Gold System" said David Adamson, President and CEO, in a press release.
The Phoenix Gold Project is 100 percent owned by Rubicon, adding to the potential value of the discovery for them.
They desribed the actual discovery this way: "...results from drill hole 305-05 at its 100%-owned Phoenix Gold Project. Reported lengths are thus interpreted to be true thicknesses. The hole intersected 1.24 oz/ton gold over 22.6 feet (42.5 g/t gold over 6.9 metres) part of a broad vein zone grading 0.59 oz/ton gold over 49.2 feet (20.1 g/t gold over 15.0 metres).
"This is a very important as well as impressive drill hole. It demonstrates excellent horizontal thickness and outstanding gold grade in the F2 Core Zone and is significant from a potential mining standpoint. Drilling to date extends the F2 Core Zone vertically for at least 1968 feet (600 metres). This suggests significant tonnage potential can be developed in this zone alone, which is only one of numerous zones we have discovered to date within the F2 Gold System. We are excited to have commenced drifting and we look forward to seeing the F2 Core Zone up close underground. In the meantime, we have a total of six rigs exploring the F2 Gold System" said David Adamson, President and CEO, in a press release.
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