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I don't know your ages, but Ive followed shares for over 30...

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aussieman69

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16/09/17

10:10

Post #: 27261855
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Originally posted by Davisite ↑

I happened to learn about MUS by chance at a social event back in April last year. I knew nothing about gemstone mining, but I spoke to someone for about an hour who was knowledgable and told me about MUS. Just out of general interest I decided to look further into it.

I started out pretty skeptical (most speculative miners are little more that hype factories designed to fleece small shareholders), but after looking closely at Gemfields and then looking at the geology of the area I thought there was a very high chance that MUS were sitting on a large number of high quality rubies. I spent some time speaking to CJ to ascertain if he was a scam artist or not and came away with the strong impression that he genuinely believed in the ground and the project.

I looked at the future growth of India and China (demand for luxuries like rubies grows faster than economies), the potential of creating a ruby DeBeers (i.e. use marketing to drive demand ahead of supply and so support increases in both volume and prices), the complete absence of any other resource in the world like Montepuez (rubies really are rare), and thought the potential return was worth the risk.

I invested in the the June 2016 CR and then spent the next 6 months seeing my investment sink. Anyone who has read the threads from last year will know that there were very few people who shared my opinion on MUS. I kicked in more money in the December 2016 CR (the giveaway of the century) and bought as much as I could justify on market at 2c. MUS progressed, but I could see that they were struggling trying to do everything GEM did but in 1/3rd the time with less than 1/3rd the cash, and very little market support. We all should be impressed in what the MUS team have managed to accomplish given the limited resources available to them.

The only time I thought of selling was in early May on the back of the way CJ handled the change in direction. I was not impressed, but after I thought about it some more I realised nothing had changed about the ground and the change was the right thing to do. I used the SP fall as a chance to buy more of MUS and have continued to buy more when I can justify it on the basis of the project derisking and value. I am not much of a believer that the market is always right, especially when it comes to small speculative companies. I will be buying more of MUS if the SP falls below 9c anytime before the auction.

I think you know the rest of the story from here.

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I don't know your ages, but Ive followed shares for over 30 years and was invested in Ashton Mining some time ago before it was taken over. Whilst a different gemstone, a few similar areas to base an investment decision on. And if you've bought an engagement ring you see the product from a different perspective. I found MUS through HC to be honest and watched the company slowly derisk. I am no gem expert but I saw the hype send the shares to above 10c earlier this year without inventory or a finance arrangement properly in place and knew it would be worth continuing to hold some portion of my portfolio again in gemstones. I have built up again expecting the October auction outcome to be a chance to take a profit. Don't want to call it a no brainer but..........

MUS Price at posting: 9.1¢ Sentiment: Hold Disclosure: Held
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