Ruby Mine Question

[diverrick]

How many of us went for the Ruby Mine stocks when it was up near a penny a share? Whats your take on this now? I was going to go for a chunk of it on a chance it would pay out, but I decided to wait and watch it. Looking back now a year later, it looks like waiting might have been the wise move after all.
Sounds like they are not getting the gold they had hoped for so they are shutting down for the winter.
So what to do now for those that did invest? Sit on it in hopes it'll recover in the spring, invest now while it is almost useless or simply write it off as a bad investment,

 

Amazon Forum Fav 👍

Family Maps of Hinds County, Mississippi, Deluxe Edition - Grab it through Amazon!

[Reed Lukens]

Could be a bad investment but still right now looks like a great time. Let me know if you want to cause I will join ya. I've never invested in penny shares before... lol.

 

[Oakview2]

I was following a thread on the mine on the old GPAA board, had some great historical information and pics, but never bought the stock. They put a boat load of money in it, just seem to put off any production.

 

[Smallminers]

I love investing in penny stocks and there is money to be made in this stock from trading it but not from them mining any gold in my opinion. I looked at it after reading this thread yesterday and looks like they are more burning money (which appears they are out of) and not getting much in return. 500,000,000 million shares outstanding is amazingly high. or them to earn a penny a share they would have to pull 4600 ounces out at $1200. With their shot mining season they would need 60 ounces a day minimum over 6 months. With no money minimal equipment I just don't think it is possible. They will have to dilute further (more shares) in order to raise more money. In order for them to even get 2 million dollars they would have to sell 20 Billion shares at .0001.

 

[augoldminer]

i have lived in Alleghany calif and ran a mine there.

With no money minimal equipment I just don't think it is possible.

The ruby mine is fully equipped and was in good condition.

They are looking more and more like some mismanagement.

I still do not understand why they are shutting down for the winter.
I ran year around and the 16 to 1 mine runs year around.

 

[Oakview2]

I agree, something is just not right.....