I predict they'll be very few ruby sales in the future to get us excited. Try and get the idea of a Gemfeilds sized auction out of your minds eye and visualise a few bags of rough ruby.... 80% of which will be lost when they are cut into gemstones ( 80% loss is standard when cutting ) .....
MUS are really only in early development stage - and with only 400,000 karats of mixed grade ruby, they are competing with every other large scale ruby rough dealer on the market who has collected mixed bags of ruby from all the other ruby miners all over the world - and there are many of them, in Africa, Madagascar, Burma etc... MUS aimed WAY too high with the auction - going for the big boys whose business models require kilos and kilos of rough on a regular basis, and got them out of bed for nothing but a few little bags of mixed lots..
MUS have to walk before they can run. ....
If you read the anouncements they are " developing a sales and marketing programme" - but using the limited stock they have available.... Developing not developed. Decent sales will be a long way off.
MUS Price at posting:
2.6¢ Sentiment: Hold Disclosure: Not Held
