Via themicrocapspeculator.blogspot.com:
Readers of this blog are very familiar with U.S. Gold: UXG, the company run by former Goldcorp CEO Rob McEwen. But McEwen also owns over 32% of another junior mining company, Rubicon Minerals: RBY. Earlier this year, McEwen invested another $10 million investment in Rubicon , purchasing 14,285,714 shares at a price of $0.70 and also receiving as part of the deal 7,142,857 two-year warrants with a strike price of $1.50. The stock price has more than tripled since then, generating phenomenal returns for McEwen and the institutional investors who joined him.
Shares have been boosted in large part by a series of positive exploration results for Rubicon’s projects in Red Lake, Ontario (and here and here ) and Alaska . I don’t know enough about the company yet to formulate an opinion, and I am hesitant to chase such a strong move. So for the time being, I will keep an eye on Rubicon from the sidelines. If you have an opinion on Rubicon, please leave a comment here or drop me an email.
DISCLOSURE: Long UXG, no position in RBY.
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$2.15 (07/16/07)
