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Gold/Mining/Energy : McEwen Mining -- Ignore unavailable to you. Want to Upgrade?


To: Robov who wrote (14274)1/12/2016 12:36:45 PM
From: JW@KSC  Read Replies (1) | Respond to of 24513
 
BRE-X may come to mind, but the difference is an Ant to an Elephant. The only thing similar is the Salting of the Mineral in the BRE-X case and the points I mention below in RED about the deception that RUBI was playing on investors I wrote on Nov. 10th Post Nov 10th to Wolf

Were I stated:

"a) Building a Mine with just a PEA Engineering Guess and NO Feasibility Study having been done on the Phoenix Gold Project before moving forward.

b) Showing a First Pour of Gold in June. Normally this is done after the mine is in the Commissioning Stage this means that the Mill is running and the Mine is running and things are operating. (Very misleading.)


As an example:
(January 9, 2013) - McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce that it has successfully achieved commercial production at El Gallo Phase 1 in Sinaloa State,
Mexico on January 1, 2013. On September 24th, the Company announced that it had poured its first bar of gold at the mine.
Subsequent to the first pour, the mine has been steadily increasing mine, crusher and leaching production and is now operating at 90% of the designed capacity.
McEwen Mining Declares Commercial Production El Gallo Phase 1 in Mexico "


And if investors got a measly Settlement to divide with BRE-X, out of $3 billion invested, then RUBI investors that hung on, are well ...................................................

Since a few here who looked as if they were investors and discussing Ruby, I posted a few story's (beginning with Nov 3rd, the temporary halt to underground activities) as to what was going on and how bad it looked, the last post was to Wolf ( who replied saying it was purely a chart play for him) was Nov. 10th last year that pretty much summed it up, ending in a Video by Tim Oliver.
My Nov 10th Post With Tim Oliver Video on Ruby there were warning signs.

I'd like to think everyone at least reviews all posts on the board, as you don't want to duplicate stories posting to different individuals, and SI mail is just a pain, especially when using a mobile device.

If I had any investment in Ruby I would have abandoned ship perhaps before and definitely after the Tim Oliver video i posted Nov. 10th.

I hope all who held are able to see Ruby come back.

But as I stated in that Nov 10th post

I don't know if Phoenix is DOA (there's a lot of infrastructure there) with all this going on, but it would take at least a year or two to reevaluate the PEA and do a Feasibility Study,
and I don't know enough about their other Projects in Red Lake (The Carbonate Zone) and in Nevada (Long Canyon).


In the Nov 10th post.

BNN Video There were warning signs before Rubicon Minerals collapsed
From: Thu, Nov 5, 2015
BNN speaks with Tim Oliver, independent mine analyst about what went wrong at Rubicon Minerals as the company suspends activity at its Phoenix Gold Project in Red Lake, Ont.

BRE-X

BRE-X Court Battles come to and End