I was of the opinion that the recovery rate was around 20%, $350/carat. Therefore on 1050 t/ day, they would be realising around $70,000 per day or $2M per month or $20M per year.
This all depends on the resource, which is not JORC compliant and the capital required.
However I think most capex has been done to build plant. Is there enough water?
There needs to be a sales and marketing agreement to monetise the rubies.
Remember as well, until you know the potential resource, then it is too early to think about 5 - 10 year Life of mine estimates.
It would be interesting to find out what is cost to get to full capacity.
However, if you discounted to 250t/day or 50,000 t per annum, that is 10,000 carat which would be $3.5M profit. if you discount down to 3x then 12M Market cap.
Obviously should trade on 8x which would be 24M Market cap.
DYOR
MUS Price at posting:
2.6¢ Sentiment: Hold Disclosure: Not Held