Rubicon Minerals

Yes today certainly was a nice move. More likely to hear about drill results and/or permits though IMO. They have been too quiet recently and I don't like it. I certainly would like to hear more of the plans they have for the AEM money. I hope some of that "other development work" includes infrastructure. If they have been doing additional bulk sampling,  it is off the radar of this investor and would potentially change the game. I would welcome it from a high grade zone this time and without a screwup please. We have paid dearly for them not sampling at least one of the high grade areas. If they eventually do it and then update the 43-101 oz counts, IMHO the stock would be in at a very different level.

Regarding AEM, I think it is safer to consider them saavy value investors until we see something different. When I crunch the numbers on the deposit, RBY stock seems too far undervalued for management to seriously consider offers at this time, but I can't possibly know all the influences at any point in time. Until proven otherwise, I expect over time for them to release drilling and permit news, as well as increase the quantity and quality of their OZ count, while they explore financial paths to build the F2 mine that maintain their controlling interest.  I believe that Adamson won't let go of this deposit. It's too rich and the land package is too promising to walk away from.

Tough day today for many.

The Dow is back to it's early August low.  The banks are trending down past that point. BAC is trying to defend 6.00 with 30 minutes to go. However, the HUI, despite getting absolutely clobbered today, is at this moment, still above it's August lows. Interesting.

IMO Gold is in a huge uptrend. A pull back to near 1650 would be beneficial. If the Dow stabilizes we are good to go. If it doesn't then many stocks of the PM universe become even better value plays during this downdraft.

For now I think it might be interesting to see if your PM stocks are still above their August lows. I don't expect to see a one-day reversal here, but I wonder if some of them might come out of this stretch with stronger looking charts.

FWIW Rubicon recently gave a drilling and permit update just as expected. I want to hear of drilling outside of the 9 boxes at F2.

http://www.prnewswire.com/news-releases/rubicon-announces-that-the-minis...

RMX:TSX | RBY:NYSE AMEX

VANCOUVER, Dec. 2, 2011 /PRNewswire/ - Rubicon Minerals Corporation (RMX:TSX) (RBY:NYSE-AMEX) ("Rubicon") is pleased to announce that the Ontario Ministry of Northern Development and Mines ("MNDM") has accepted (approved) its Production Closure Plan as filed for its 100% owned Phoenix Gold Project in Red Lake, Ontario at 3:15 pm Toronto time today. This approval allows Rubicon to continue its development and further construction of the mining facilities for the Phoenix Gold Project.

David Adamson, Rubicon's President and CEO commented, "The approval of the Production Closure Plan is a significant milestone in the development of our Phoenix Gold Project especially considering that we made the initial discovery a little over three and one half years ago.  We are committed to both continuing our ongoing consultation with local Aboriginal groups whose traditional territory includes the private lands where the project is located and also building on existing agreements with these groups. To this end we are targeting conclusion of mutually beneficial agreements in 2012 covering the production phase of the project.

We wish to express our appreciation for the support shown to date by local Aboriginal communities and by the people and Municipality of Red Lake where we live and work. We also wish to acknowledge the contribution of the MNDM which supports sound development of mineral projects in the Province. We are proud to be active members of the Red Lake community and are committed to the responsible development of the Phoenix Gold Project in this famous gold district."

While the Production Closure Plan approval provides for continued development and construction, three separate permit applications for amendments to existing approvals remain outstanding. These are the amendment to the Permit to Take Water, the amendment to the Air Certificate of Approval and the amendment to the Industrial Sewage Certificate of Approval. Rubicon currently expects all remaining permits to be in hand by the end of December, 2012.

As if those 9 boxes in their resource model weren't enough for an amazing resource, Rubicon has been drilling beyond the scope of their 9 box targets at the Phoenix project in Red Lake. In my opinion they feel confident that they now have enough infill drilling to identify where to mine ore for the first five years of the mine. I also believe that they are now gathering data that may support interpretations of a much larger resource. From these first three links below we know that they have;

• drilled beyond the 9 boxes in both strike (length) and depth
• much deeper holes to report beyond the 1546 depth reported on 5/14/2012 because they were drilling at 2400 meters depth in April.
• at least 32,000 meters of drilling planned through Q3 and the majority of which will "focus on extending known mineralization and expanding the mineralized system"

3/29/2012   "41,000 metres remain to be drilled before the end of Q3, 2012. This program has two objectives: infill drilling designed to confirm and potentially extend existing gold zones and expansion drilling designed to test for further extensions of known gold mineralization. The majority of drilling to date has been focused on infill drilling from ice-based drill pads and from underground. The majority of the remaining drilling in this program will focus on extending known mineralization and expanding the mineralized system."

4/19/2012 CEO said on DGG webcast that they were drilling at 2300-2400 meters.

5/14/2012 "Currently, there are 32,000 metres planned to be drilled by the end of Q3, 2012 with room to expand this amount should results warrant. "

• deepest reported results to date @ 1546 meters
• drilling outside of the 9 box target area returned 34.5 g/t near surface at 10 meters in depth (hole F2-2012-06)

Recent Assay Table of all results 5/14/2012

This stock has performed poorly for over 2 years. Today it dipped to about $2 again and I consider todays prices to be a very good value in the development cycle of this company. I am long this stock. An updating of the resource is expected in April, they present in Europe in two weeks, and a revised PEA is expected later this quarter. I would prefer that they release news in a more favorable environment than this week has been. I would also like them to develop more frequent and regular communications that are not driven by material news events.

I haven't posted in a long long time, but will say now that this deposit continues to be a very exciting one to me. You can see the construction photos here
http://www.flickr.com/photos/rubiconminerals/

I think that with the Cyprus bail-in, that money will flow to metals now with more urgency. IMO when money gets tired of chasing paper metals they will buy the miners to get the product. I feel it is now quite possible for the sector to alter its course this spring.

Just my opinions.

http://finance.yahoo.com/echarts?s=RBY+Interactive#symbol=rby;range=my;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;