Come on everyone keep it real.......extrapolations based on guesstimates will get you to Darwin when you packed for Hobart .......so stop it unless you have some reliable new information to share.
As proof of the ridiculous conclusions being bandied about ........lets take for for example a fact for a change, like we know the spread of prices were from $6ct to $1944ct .
Now such a spread would have most intelligent people staying away from any $6 or $1944 figure to multiply by the total cts remaining to derive some value one could rest an investment opinion on .
So NO the unsold rubies are not worth only $6 x 375,000 ($2,250,000) NOR is it probably worth $1944 x 375,000 ($729,000,000).
Well is the average of the two limits a reliable base then, NO the spread is to wide , if it was 8 to 10 then OK use the average .
Anyone basing anything on $6 or $1922 needs to give themselves a good upper cut.
Not sure about the SP today because of irrational fear totally overcoming logical thought , for some , so it will be dumped for sure, but will it be higher after the overreaction is behind us YES.
One intelligent thought with stocks is to look for comparisons to a similar incident and one readily comes to mind .....if it is a fact as has been alleged that Gemfields first auction average was $22ct then it appears our INAUGURAL auction had a similar result . Does anybody know how much they offered or what % was sold?
Now before everyone rushes for the one inadequate exit door in an hour's time CONSIDER this...... one of Gemfileds subsequent auctions went for $47million which is 66 times more than we sold last weekend and they have apparently had many others of such spectacular results. So expect something similar but not the same for MUS in the future (2 next year then 3 the following year) and wont you feel like a goose if you did not wait for one or more auctions IF YOU CAN because the SP then might be 10 times today's opening .
Dont for sure but lets all stop putting forward RIDICULOUS extrapolations
CHILL OUT people
MUS Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
