Limited After reducing its shares in Rubicon Minerals (RBY), due to its lack of interest in last year’s investment in Runicon’s Red Lake Camp in Ontario. Last year Rubicon invested $70 million in this area as a long term investment, only to have a substantial portion sold off this year. Rubicon’s interest in this project have been mostly profitable and in line with future goals, however, we are not sure why Agnico Eagle is reducing ownership in the company. Some speculate that Angnico-Eagle is having internal conflicts that played a role in this transfer of ownership, however Angnico is not in a bad position financially, In my opinion, they are just restructuring their strategy.

This morning gold futures were trading at $1616.50, down $2.90 (-0.18%).

David Cornes holds a degree in economics from the University of Montana