North Bay Resources Inc (NBRI)

[es1]

I agree with this in the short term and my long term is about the same as Gems.
They could have found gold much faster but it also could have killed the stock.

If they had just dug they would get gold(almost anywhere there) but after 70 tons of random dirt they might only have 2 oz to show for the effort. That would totally wipe out investor confidence and the PPS would drop. Gold or no gold. Financing would have been next to impossible, and dilution to fund the operation would be extensive. The stock would slowly bleed to death.

By taking the time and asking the shareholders to foot the bill, they have been able to rehab, and get to the sampling of areas expected to show that the mine is a mountain of profit, and not a money pit.

That is the catch here. Production of very small amounts of gold would have been a slow death with a slight chance of hitting gold worth the profit.
The way they did it they can not fail to get pay dirt, if the pay dirt is in the hole, as expected.

This makes the risk less about the management, and more about the mine being able to produce.

I think the work being done, and the steps forward, have vindicated the company. Now it is about the mine proving itself.
It is a lot less risk when you have good management.

IF ruby has the gold expected, we will find out in 2 weeks or less.
If it fails to produce, no amount of management will fix that. The loss will be immediate, and not a slow bleed to death.