1)
Went to the Rubicon reception and presentation yesterday. A big crowd of investors, brokers, analysts, prospectors. Perry English was introduced. David Adamson's talk was lucid and low key. If you look at the map of Red Lake you'd almost think that Rubicon IS Red Lake - especially the land covered by the Anglo j/v - a sea of red !
Had a long talk with D. Adamson at the beginning of the reception (I was there incognito!) and met Mike who is the chief geologist I believe. Liz Monger - young and very pretty! These people have been assembling this huge land position over the last 7 years, before it was fashionable to be there. Most, if not all of the properties have been acquired through Perry English who has been at it for 15 years. The deal for his 62 properties is a huge coup - how many geologists in history have managed to tie up such a land position?
Adamson is encouraged by the Woldfen results - they confirm the extension of the East Bay Trend and the geological model based on Goldcorp data - which was given to the world as a result of the Goldcorp 'Challenge' over the net. And McFinley is right on the trend line between Wolfden and the Goldcorp drilling and on to the old Cochenour Mine. But Adamson sees a parallel trend on the Anglo ground and possibly parallel trends beyond also on Anglo ground. Anglo are hot on Rivard in particular.
Some other information (if I remember more I'll get back):
75,000' of diamond drilling this quarter alone - most if not all on McFinley - by the end of this week there will be 4 drills operating at McFinley - and most through the ice - there should be another month of ice drilling left. So this would add up to 9 drills working on all properties.
Interesting that of 32 drills turning at Red Lake presently, 8 are Rubicon's
100,000' of dd for the year - surely more with follow up work - but one should bear in mind that this current push is because of the ice.
This English deal is indeed brilliant as one poster mentioned - because Rubicon is in effect the landlord on 62 properties, including 14 of it's own including the Anglo properties. The market will digest it as it is undestood and it will provide additional underpinning for the stock price. The payout on the deal is a mere two years. English will be consulting for Rubicon for the next 2 years.
2)
1) The English properties on which there are no current deals are of course tied up by Rubicon now - they have the option to explore them or farm them out
2) Ultimately the end game for Rubicon must surely be to attact takeover bids. Why else are they retaining 100% of McFinley. Anglo is not the only potential suitor - there are 5 majors operating in Red Lake now: Anglo, Placer, Goldcorp, Kinross, - can't remember the 5th one for now (later - Agnico!). Notably Barrick is not there - yet!
The sea change on the exploration scene over the last couple of years is that the focus used to be in Latin America, Africa, Indonsesia, the States, Australia etc. But now Red Lake is front and centre with the extraordinary Goldcorp high grade deposits. |
