Rubicon Minerals (RBY) Posts Biggest Single-Day Rally in 3 Months

August 20, 2009

Yesterday, shares of Rubicon Minerals (RBY) advanced over 12% as speculation grew about just how much gold is at its prolific Phoenix Gold property at Red Lake, Ontario.

- Bloomberg posted an interview with CEO Adamson who stated, "The size of the system we're currently defining is as large as the Campbell deposit, and the Campbell system was producing for well over 40 years."

- John Graham, an analyst at Macquarie Research suggested that the property might have anywhere from 3 to 8 million ounces of gold.

- Over the weekend, Peter Zihlman, a Swiss analyst and fund manager reiterated RBY's appeal.

- That same day, Rubicon announced the appointment of a newly-formed Vice President of Operations, Claude Brouchard, who brings over 25 years of mining engineering experience to the company.

So there you have it. Things continue to look better and better. It's worth mentioning again that shares of RBY are up well over 300% since we told our readers and clients about the prolific nature of its Phoenix gold project and we've continued our coverage ever since.






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