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One of the better looking charts out there today within the gold sector is Rubicon Minerals as it’s being drivin by production news. It seems to be very hit or miss in this sector lately and one needs great stock picking abilities if they want to profit. Many of the individual issues are down today, as is the $HUI, but this stock is up nearly 30%, hitting all time highs.
Co provides a NI 43-101 compliant inferred mineral resource estimate for the F2 Gold System, part of its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario. The results “demonstrate that the F2 Gold System is already a significant sized gold deposit. Importantly, the gold grade of 20.1 g/t gold is high compared to most major gold deposits around the world and is consistent with the overall Red Lake camp average grade, which is Red Lake’s key advantage. ~yahoo news
Given that RBY has an extremely bullish weekly, this could run for awhile. I would like to see it pullback to around $5.25 for a long entry.
