Ann: Caula Vanadium-Graphite Scoping Study Exceptional Economics, page-48

@pe981  - if you can tell me the trading price for run of mine quantities of medium and high grade ruby rough, in the open market, at any time this month I will eat my hat. However, I humbly suggest this will be highly unlikely  - and you will find that ruby sales are indeed an insiders game. 

Obviously mining graphite and vanadium isn't going to be easy to mine either (vanadium is notoriously tricky actually) - but my point is that they are a damn site easier to evaluate and price  - so values in any reports they issue are more likely to be somewhat correct as opposed to wildly incorrect. ( Im pleased to note the calcs in the scoping study are very conservative - and use V205 @ $18/lb -  instead of this weeks trading price at ~$30/lb. ..

If you read the SS - you'll note that they have relatively low costs required for stage one. No one said it would be easy - they're off grid in deepest, darkest , Mozambique if you hadn't noticed. However - they only need  $10mil to get going with phase 1 , which means it is not a wild dream. 

Caveat emptor of course - and I have sympathy for the big loss I'm guess you took - but for some of us who didn't  buy during the ruby rush the current share price represents a real bargain.