DALLAS, TEXAS : StockGuru announces that Ruby Creek Resources Inc. (OTCBB: RBYC) is in the StockGuru Spotlight. Ruby Creek Resources, Inc. is an exploration and mining company. Ruby Creek currently operates in Tanzania through its 70% owned company, Ruby Creek Resources (Tanzania) Limited. Ruby Creek Tanzania is the operator of the Mkuvia Gold Project, is establishing infrastructure and has commenced the permitting process in support of the full development and commencement of operations on the Project.
On Friday, the company put out news announcing that it has signed a Purchase Agreement to acquire the exclusive mineral and mining rights to the 340 sq km Kapinga property for a purchase price of $500,000. The Kapinga property is located immediately adjacent to and south of Ruby Creek’s Mkuvia Gold Project in southern Tanzania. Through the Purchase Agreement, Ruby Creek has been granted an exclusive option for access to and exploration of the Kapinga property for due diligence. Should Ruby Creek exercise its option in the six-month period, the Kapinga property will be transferred into a newly formed joint venture company, Ruby Creek Gold (Tanzania) Limited. Ruby Creek will own 85% of the joint venture, Mr. Kapinga 10% and other parties 5%.
Shares for Ruby Creek Resources Inc. (OTCBB: RBYC) were up during the day of trading on Friday and closed up five cents at closing.
To view our StockGuru Spotlight on Ruby Creek Resources Inc. (OTCBB: RBYC), please visit: http://stockguru.com
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Ruby Creek Resources Inc. is in the StockGuru Spotlight for September 13, 2010
