The bottom line for MUS at present is that it is in (.........)
Unless MUS can demonstrate that it can mine and market stones profitably within the next 3 months,
then the market will see the "ruby" division as a flop.
If that is so, then it will have little option other than sell or float-off the graphite tenement because, based
on the "ruby debacle", neither the Board or Management have the cred to raise $ to advance the Graphite
project.
There is still alot of unknowns about the 'ruby" operations:
-who owns the artisanal % of inventory
-how much $ does MUS owe?
-what is the quality of the inventory?
-How much $ does MUS owe to artisanal miners?
-what long term obligations does MUS have to artisanal miners?
-have the artisanal miners cherrypicked the mined stones?
-if the mining operations are not profitable, then what will MUS do to remain profitable?
-have the quality of the inventory been misrepresented by MUS?
-If MUS goes into administration, could a class action be then initiated against the Board & Management
-If MUS goes into administration, does Regius have first claim to MUS assets?
One way or another, by the Dec quarterlies due at the end of Jan., we should have a clear idea about MUS' liquidity and its future.
My guess is a trading halt late January, Administrator appointed & an asset firesale within 6 months.
Let's face it, the eyes have been picked out of the inventory for $750K and a few mil for the balance wouldn't clear debts let alone finance another quarter.
If you were a MUS creditor right now, you'd be peeing yourself.
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