Ruby Fever, page-167

Really?! I went to extreme lengths to explain the quality distribution of our product:

https://hotcopper.com.au/threads/pe...on-for-october-auction.3792561/#post-28294623



The problem we have is poor presentation or packaging of a portion of inventory. The failure being at the final sorting and grading stage of the commercial-Quality material, although this is yet to be confirmed. I will certainly ask about this at the AGM.

The other problem is perhaps also managing buyer expectations. There was significant demand for the High Quality material since that is the material that sold. Buyers were expecting there to be greater quantity of the High Quality material available from statements the company had made, although I was certainly aware of the amount of commercial-grade material that would be in inventory from analysis of company-provided data.

There is also huge demand for commercial grade material however it needs to be properly presented in lots of consistent combinations of colour/clarity and also size. Some of the buyers don’t actually understand their own market. I’ve seen evidence of buyer demand for pinkish material, although unfortunately can’t share that here.

You also need to understand that we are a developing junior-minor at the bulk-sampling stage of the operation. The company is using the opportunity to provide cashflow for development/growth by selling significant volumes of sampled material. This is a unique position for the company since there are not many materials where real cashflow can be derived at the sampling stage.

As @gsmaree states, let’s wait for the company announcement before making any final conclusions on the quality of the product.