G79 (ASX) Farewell MUSites

Originally posted by Teddyward ↑

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.

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If anyone can do it, it will be Fura. They do need to get an AIM listing to tap into all old Gemfields investors as the Canadians seem to not understand what Fura is doing. If they do this (it looks to be in the plans) then they will be able to get the needed cash to develop the ruby ground. It is all coming together rather nicely for Dev and his team.

I do think there is room for an ethical and transparent listed player in the gemstone market. Sure you pick up some advantages by being a private company, but you also gain some advantages by being open. Ethical supply is only going to become more important going forward and Fura is well placed to capitalise on this. As I have said for a long time someone is going to get rich off MUS's ruby ground and it looks like it will be Fura.