He had spoken to many buyers prior to the auction so he must have had a good idea of what they were after. Stuffing up the grading process is no excuse. Based on info we have, it could be the case.
Even he was over optimistic, he should have kept quiet. Personally, i would have a few experts looking at the rubies and giving their opinions.
Grand plans for expansion have been stated in a few announcements and indeed they expected the auction to go so well as to fully fund OPex and expansion. This may still be the case as we have nothing as yet.
Lets hope revenue is enough to achieve this. Even if expansion happens, i believe there needs to be a change in strategy on all levels.
Its a tough game out there. We are the only listed company selling rubies. Much easier to avoid scrutiny etc when you are private.
A TO may be on the cards if things go sour?? Opinions?
When expecting the auction ressult ann en when annul TH, page-156
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