After a long-term downtrend, suddenly Ruby Creek Resources Inc (OTC:RBYC) broke up the loss. Yesterday, the stock jumped 
up 1.92% and its traded volume substantially increased.
Looks like the company’s announcements have worked out at last and RBYC got the climb. The last one was released just yesterday, when Ruby Creek reported some changes in its management.
According to the announcement, Rob Slavik, a Director and former CEO has resigned and will continue as a Director and consultant to the company, trying to provide strategic advice and interfacing with the government of Tanzania on the company’s behalf. At the same time, Mr. Dan Bartley has been promoted to CEO of RBYC.
It is not certain if the management changes or something else has cut off the loss of RBYC, though it’s about to be seen.
Ruby Creek Resources, Inc. is an exploration-stage company engaged in the examination and investigation of land that contains valuable minerals. As of November 30, 2011, the company’s assets have significantly increased, though its long-term liabilities have not been covered, as well as the rising net loss. Besides, the deficit accumulated during the exploration stage flew up.
Ruby Creek is in the exploration stage and has not generated revenues yet. Meanwhile, it has incurred significant losses from inception through Nov 30, 2011 of approximately $9,900,000.[BANNER]
Based on all the above-mentioned, the continuation of RBYC as a going concern is dependent upon the company’s ability to obtain necessary financing to settle outstanding debts, fund ongoing operating losses and to determine the existence, discovery and successful exploitation of economically recoverable mineral reserves on its resource properties and ultimately on the attainment of future profitable operations.
Management believes that additional financing will be available on terms acceptable to the company. However, there can be no assurance of this, nor that commercial operations will be reached.
