Gemfield Auction Results - 15 June 2017, page-2

I should also emphasise at this point that MUS strategy is to focus on the secondary deposits which yield higher-quality rubies than commercial grade predominantly found in the primary deposits.

The 2015 auctions are the best indication of the price / carat that could be expected assuming MUS planned recoveries are achieved. Therefore we should anticipate (all going well) 200,000 carats of rough ruby that includes ruby in the higher price ranges ( USD $317 / carat to USD 617 / carat ). What we don't know yet is the breakdown MUS are achieving.