Sunday, August 02, 2015 8:31:03 PM
Ruby sits in my favorite rural RE on earth, the Sierra Foothills; and I know elderly hippies up there who did the Back to the Land migration in the late 1960s and have panned in the area and made surreptitious forays into the Ruby for years.
April 2014 I segued a visit to the Ruby with paying a visit to a well-known guru up in those parts ... he knew the mine and thought it was played.
I might just do the same thing next w/e ... drive out to Grass Valley and further up 49 to Downieville, hang out and ask the coin dealers and jewelry makers whether there has been any activity at the mine ... except I already know the answer.
There is also the environmental angle - the severe drought and the very negative play that reopening gold mines has received in the area. Couple these fact with the Au bear, the toxic spiral financing, makes this issue insurmountable imvho.
The longs could load up at .00009, realizing this is no better than a lottery ticket purchased at Abdul's Pick n' Save; or call their broker and have their position liquidated - as I did with Enron pink shares back in 2001 when I was playing the pennies.
It's still much better odds than the Lotto. And you have 100,000,000 Chinese who will believe what they are told ... step right up.
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