Ann: Montepuez Ruby Project Operational Update, page-76

MUS is exploring, not producing. They are looking for a location that generates significant numbers of high quality rubies. If they find one then even at 0.5ct/t they will more than make a profit. Until we know the quality mix we don't know if they losing money on the exploration or not.

For what it is worth the processing cost per tonne used to be US$8. At US$30 they should be making a profit.

While I don't have much faith in the management, the economics of ruby mining are not a concern for me.