In this article, I will give a description of Rubicon Minerals (RBY) and the reasons why I believe this stock is undervalued. The references I am using in this article are taken from the latest presentation available on Rubicon's website here, dated February 2012, and the last interim report dated September 2011 here (pdf).

Business profile

The company is primarily involved in the acquisition and exploration of mineral property interests in Canada and the United States.

The key property = Phoenix project in the Red Lake gold camp

It is located in Ontario, Canada. The Phoenix project has a large land position of about 100sq-miles. The work is currently focused on the F2 deposit. In December 2011, the Ontario Ministry of Northern Development and Mines ("MNDM") accepted its Production Closure Plan. The current mine plan is based on a life mine of 12 years, utilizing 2.0 million ounces (with