North Bay Resources Inc (NBRI)

[es1]

OK so tell me something.
The Ruby is shut down for at least 6 months.

It was this companys only chance of mining anything before spring.

The costs for the Ruby will continue and that cost ALONE will be $360,000 in that time.
I do not see anything that can possibly bring up the price of the stock in the next six months and sustain it. That would include if they made a deal for someone to mine one of their properties. The money from the deal would not even show up until they begin mining in a year or two.


With the current conversion price the money required JUST for Ruby Just for the next 6 months will be 1.2 billion shares.

The OS now is only 300M you are talking about making the share count 5 times higher. That makes the PPS 5 times lower.
Since our PPS is (being generous) .001 you are looking at a PPS of .0002 If the PPS stays above .0005 for the next 6 months.

How do you see the company paying its bills without at least 1B new conversions being made?
This is not counting any past agreements for shares.
It isn't including any other property bills.
It isnt counting the cash paid to the CEO and his company
It isn't including any money to start back up in spring.

And you can bet the spring cleaning is going to take well into summer.

I am willing to bet that we are told that during the winter the area of instability caved in again and blocked the drainage. The damages will take 6-8 weeks to repair...
At the 6 months open and 6 months closed in a year that only allows them 3 or 4 "6-8week" issues that they can handle per year.

Why shouldn't I be certain?
It is completely obvious to anyone that wants to look.
IMO there will be an RGI spin off if they can get the SEC to agree but the spin out will be nothing more than the RS everyone knows is coming.
Bet it comes with a CEO change too