Readers of this blog are very familiar with U.S. Gold: UXG, the company run by former Goldcorp CEO Rob McEwen.  But McEwen also owns over 32% of another junior mining company, Rubicon Minerals: RBY.  Earlier this year, McEwen invested another $10 million investment in Rubicon, purchasing 14,285,714 shares at a price of $0.70 and also receiving as part of the deal 7,142,857 two-year warrants with a strike price of $1.50.  The stock price has more than tripled since then, generating phenomenal returns for McEwen and the institutional investors who joined him.

Shares have been boosted in large part by a series of positive exploration results for Rubicon’s projects  in Red Lake, Ontario (and here and here) and Alaska.    I don’t know enough about the company yet to formulate an opinion, and I am hesitant to chase such a strong move.  So for the time being, I will keep an eye on Rubicon from the sidelines.  If you have an opinion on Rubicon, please leave a comment here or drop me an email.

DISCLOSURE:  Long UXG, no position in RBY.