Three Theories for the Great Silence, page-121

The majority of Rubies sold by Gemfields are mined from their Maninge Niece deposit. If you look at the grading break down you will find next to none of these rubies are of gem quality. (As a matter of fact what GEM call a secondary deposit at their Maninge Nice is quite debatably remnants of a vertically eroded primary deposit. I personally don't consider GEM's secondary deposit at Maninge Nice as secondary as do many other professionals i know either but hey I'm not going to argue it with anyone). This is also why i say markets have no idea about pricing rubies because they are not geologists/gemologists.
What needs to be taken into consideration is that MUS's rubies from their Alpha deposit and all others extending from this limb are more closer related to GEM's Mulgotto secondary deposit. If you have a look back at when GEM mined mulgotto and held auction and compare $/Ct price received you will see why i laugh at anything under $100/ct.