Dont agree. The auction buyers are no dummies, there may plus or minus 10% on their sealed tenders but not the 80% you suggest as a possibility. So broadly speaking, they knew this weekend what the overall approximate value of the rubies were and the auction overall value, more or less. This insight is effectively privileged information they would have before market open this morning. 30 or 40 buyers at auction sighting the rubies, potential for leaks, unless Mauritius has no phone/email access. !!!! A T/H should have gone into force before market open today. There has been a stuff up somewhere along the line that this has not occurred until 1 hour of trading already done. If the auction does turn out to be a bit of a fizzer, the stuff up could turn out to be a debacle.
Its incredibly rare for ASX to reverse trades, so whats done is done. I held, but sold my remaining few shares this morning. Market may have it wrong, but more often than not its usually right.
MUS Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
