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Ann: Amendment to Fura Gems Merger of Ruby Assets Agreement, page-66

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AlexandrosOM

1,610 Posts.

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05/12/18

07:57

Post #: 36753005
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Originally posted by AlexandrosOM ↑

A sad turn of events that shareholders got these South African cowboys as directors. They had everything they needed to be a ruby producer on par with Gemfields. At the time they were only the second public ruby mining company with huge financial support like Arena who have 750mil in assets. The graphite project has been ongoing since they moved from the US to Mozambique in 2015 but using Vanadium in their headlines i believe is recent, and its fast growth in recent years mayby the reason. With the mounting debt, no confidence or trust from the market, possible legal battles with Arena, there is little hope. They could barely mine rubies, +80% of their inventory came from Artisanals and that included most of the special stones.

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The failed auction should've been marketed as low quality stones. Its unbelievable they pumped the price with special stones but never sold them.

NXE Price at posting: 5.0¢ Sentiment: Sell Disclosure: Not Held
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