North Bay Resources Inc (NBRI)

[Anvil]

Uh it was an obvious joke. NBRI spent half that money on the Ruby. The other half spread out over 25 properties is peanuts. Laying the groundwork for future profitable gold mines.

I don't think your statement is correct.Of the $4.3MM raised since 1/2012, $1.9MM was raised this year (2014) and I don't think NBRI has been that active on other properties during the year. Hence, the overwhelming majority of the funds went toward the Ruby, which has not turned out well.

But I do agree with you, it will take a considerable amount of time for o/s to balloon up as there is not enough buying interest.

As far as share price goes, any positive news will be met with conversions keeping the share price from rising substantially. Only hope is Perry can raise money to pay off a large portion of convertible notes.

But the cycle will begin again as mining cost will rise when/if the Ruby is re-opened.