G79 (ASX) Farewell MUSites

Originally posted by Davisite ↑

Thanks for all the kind words from everyone. I was always in MUS for the rubies and when they went I knew my time was done. I really hope MUS manages to pull off an upset and get the graphite/vanadium mined - nothing would please me more than to see all the shareholders do well.

I am very seriously thinking of buying into Fura as they appear to be everything I had hoped MUS would become. With the ruby ground and an AIM listing they have a very real chance to take on Gemfields. I don't think the Canadian shareholders know yet what they have just picked up for a song.

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Amazing isn't it.

Not like MUS don't realise ruby market is hot if done correctly and yet they once again got Regius all the cash so they could invest elsewhere and left MUS holder holding some overvalued Fura shares . Yep it takes a special type of management that doesn't ensure some leverage by options , floor or capped or guaranteed % locked free carried going forward rather than copping Fura stock IMO at 100% premium price . Not even a trailing commission / bonus for bonanza ruby grades or finds if ever mined.

The delayed quarter pennys MUS holders have or will receive for the whole ruby foray is a embarrassment IMO opinion and I'll leave it to others and history going forward to comment on if it is a Smart Fura or a insanely incapable and stupid MUS. Strange when some common components between MUS and Regius and Regius did much better.

As for Fura - I wonder if they can get it away and a decent valuation as IMO MUS have tainted the whole ruby mining and market by the way they have gone about it. Premium gone and no other listed market comparitor . Reputations of Fura boys will only carry them so far but it is results that will so I am not sure finance will come easy and listing will cause premium it may have done 24 months ago. As others have said it is hard to be listed and transparent let alone ethical in country in gemstone mining and simply there is enough private funds to do it so if it doesn't achieve a premium quickly I believe it will suck capital from market as a listed entity , prove itself up and then privatise just like GEM has done. Play the ups and downs in Fura as it will be interesting as to just how much capital they need and at what point they get sustainable cashflow.