North Bay Resources Inc (NBRI)

[Blindsquirrel]

It currently takes 19.5 years to open a new mine. NBRI acquired the Ruby in July 2011. Exactly 3 years ago. They have indeed come a long way in a short period of time.

“The time from discovery to production increased to 11 years for 57 new mines between 1996 and 2005, and to 18 years for 111 new mines between 2006 and 2013. (For this analysis, expansions and mine redevelopments are not included as they are not comparable with new mine developments.),” they said. "The length of time from discovery to production is expected to continue trending higher: 63 projects currently in the pipeline and scheduled to begin production between 2014 and 2019 are expected to take a weighted-average 19.5 years from the date of discovery to first production.”

http://www.kitco.com/news/2014-07-18/Lack-Of-New-Discoveries-Slower-Mine-Project-Development-Weighs-On-Gold-Industry-SNL.html