I am still interested in the fact that you said berdua?
As for the rubies I don't know what they're worth, nobody does...it's all wild speculation... but as a guide we could safely say they're not worth more than the cheapest Burmese stone of a similar size, meaning definitely less then a few million, quite likely a couple of hundred thousand. And what is the cost of extraction of this parcel, can anyone tell me that?
Remember that all of those record prices bandied around were for rubies cut and set in jewellery accompanied by diamonds, so think about all of the commissions and fees along the way. The price paid to the miner must certainly be less than 50% of the final finished product, that's without accounting for the the cost of the diamonds included in the pieces. And all of the top 10 have been mined in Burma.
As far as I know De Beers and Argyle Diamonds are the only miners that market their jewels from mine all the way to retail sale. De Beers created the whole 'diamonds are forever' marketing scheme back in the 50s if i remember correctly. And then they even made a James Bond novel/film of the same name with Shirley Bassey performing the song...talk about clever marketing!
Rio Tinto have done a good job of marketing their special Argyle Diamonds....whose mine will be closed soon leaving Diamond Joes MED as the only producing diamond mine in Australia - also source of Australia's largest diamond ever discovered.....I am getting off track now.
As you say, even when we do understand a company we are often led astray by dodgy reporting. MUS put out the release and the spruikers here have done the rest.
PS I just shone a torch on my ruby crap..turns out it was just a bad case of 25 carat hemorrhoids, with zero cost of extraction!
But nevertheless i still might scoop it up and list it on ebay - who knows if people believe what they're hearing here i still might get a decent price for the parcel.
MUS Price at posting:
4.2¢ Sentiment: Hold Disclosure: Not Held
