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Ann: Plant Commissioned and Rubies Delivered to USA, page-124

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Warnie

17,233 Posts.

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21/01/17

10:00

Post #: 22046291
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Originally posted by 1sharetrader1 ↑

I think people here need to be careful because going by my estimation of mining costs and the current grade these rubies would need to continuously sell for a average of $500 a carat just for the operation to break even with maybe some profit.
I do know that it costs US1 million per 10,000 cubic meters to mine diamond gravels in Angola,as a example.
So in my opinion a lot more than 76.5 carats of specials out of 1638.76 carats will need to be recovered to make this operation profitable.
The bulk of the rubies being mined are just to small to hold any meaningful value and these operations would need a grade of 10 carats per 100 cubic meters fetching US1,000.00 a carat to be covering costs.
The overall average stone size needs to be about 0.8 of a carat to start with before this mining operation would be profitable in my opinion.
At this stage it does not look like a profitable mining operation,but if the specials can increase per 100BCM and the average carat size was to increase there is a chance there may be a profit to be mined.

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Thanks for detailed response.

Appreciate it, im doing more research today.

MUS Price at posting: 5.0¢ Sentiment: None Disclosure: Not Held
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