Dallas, Texas 02/28/2014 (FINANCIALSTRENDS) – Rubicon Minerals Corp. (USA)(NYSEMKT:RBY) is a Vancouver, Canada based minerals corporation. It works on acquiring, exploring as well as development of mines and assets for precious metals such as gold, as well as most of the basic materials. Rubicon is known to operate a self-owned projects as well as look at funds brought out by partners and other explorations.
New finance deal
Rubicon Minerals Corp. (USA)(NYSEMKT:RBY) has also announced a finance deal. This includes underwriting by a syndicate. The purchase includes 64.6 million units.
Rubicon Minerals Corp. (USA)(NYSEMKT:RBY) indicates that it will these funds to develop the Phoenix Gold Project. Earlier, Rubicon Minerals had also entered into a deal with Royal Gold. The transaction was valued at $75 million and will include the development of the gold stream transaction. It is expected that the transaction will now remain focused on the development of the Phoenix Gold Project, located off Ontario.
The advance payment will now be in the region of $75 million and cover five instalments which are expected to be spread over 12 months and inclusive for the development of Phoenix Gold construction project.
Mines it operates
Rubicon Minerals Corp. (USA)(NYSEMKT:RBY) operates laterally as well, investing in terms of funds in other mining and exploration companies, as well as resource companies. The company has control over 65,000 acres of land around the Red Lake gold camp. This is located around the province of Ontario.
Rubicon Minerals Corp. (USA)(NYSEMKT:RBY) has begun the process of developing a property it holds entirely on its own – the Phoenix Gold Property. This miner, based out of Canada also holds properties which are located in Nevada as well as in Utah in United States. The range of properties which it holds otherwise are- Adams Lake Property, Slate Bay Property, East Bay Property, DMC Property, Schlasinger Property as well as Brodie Property, besides the Westend Property.