Great summary post and some interesting discussion.
I believe the rubies pictured are from current recovery not existing stock. The estimates about carats and net outcome are still a bit spurious - only the auction will prove the real story to those that are concerned. It doesn't really matter whether the picture only show 5k carats of stones. My personal belief is that this is the recovered stones from the new lease which would correlate. These are also probably those held on (or near) site prior to dispatch - the group don't like to hold too much on site for obvious reasons.
I was also thinking further about the recent price action and can suspect it comes down to the recent decrease has caused people to be more cautious with the stock. Those that may be willing to speculate are not as keen, given they were burnt and I also suspect a few of those that are invested are selling into the strength to escape a short term trade turned long.
It may also be driven by some end of year selling (into strength) to re-set the tax losses.
I suspect the auction may catch some unaware if there is not much price movement before.
Either way, the fundamentals appear sound (to me) and we're on track to a fantastic Q3 & Q4. I like how Q4 becomes Q$ if you hold the shift key on - good omen.
Cheers
Capt Amazing
MUS Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
