Thoughts for 2017, page-47

Yes this is true. It is possible that we might see a short term dip in the ruby price as it is never easy to match production with demand, but longer term demand will swallow what ever MUS and GEM can produce.

I think quarterly auctions are what the buyers want. GEM because of its multi-stone offering (emeralds, rubies and sapphires) could not move to such a system, but for MUS it is not a problem. Helping the customers should be a good thing long term.