Topic: How To Invest

Hi Pat: What is your opinion of Rubicon Minerals?

Article Excerpt

Rubicon Minerals, $4.16, symbol RMX on Toronto (Shares outstanding: 213.6 million; Market cap: $888.4 million), explores for gold and base metals. Most of the company’s Canadian properties are in the Red Lake gold camp in Ontario. It also explores for gold on its properties in Alaska and Nevada. Rubicon owns 65,000 acres of land in Red Lake, including a major holding in the Red Lake Gold Belt. This area has produced 23 million ounces of gold, and is near the site of the Red Lake mine owned by Goldcorp (Toronto symbol G). Rubicon is mainly focused on its 100%-owned Phoenix Gold (formerly McFinley Gold) project. The company’s other Red Lake assets include Slate Bay and East Bay (100% owned), DMC (100% owned), Humlin (100% owned), Red Lake North (optioned to Solitaire Minerals), and McCuaig (held through a joint venture with Golden Tag Resources). Aside from its Red Lake properties, Rubicon holds the largest land position in Alaska, at 380,800 acres…