I'm not sure you could assign a zero sum to the ruby operation....

I'm not sure you could assign a zero sum to the ruby operation. Seems harsh.

If management are real and have any sort of understanding of what is happening, then before opening tomorrow they would provide a detailed market update.

If they genuinely didn't sell because of the problems with different quantities and qualities, compared to what buyers were after, then it would be easy for MUS to give a full breakdown of the left-over inventory, considering it has now been looked over and appraised by experts. It should also include a plan for either selling them off-market or their goal for, and timing of, the next auction.

If the rubies genuinely are not worth much, the market should be fully informed as anybody who has had a chance to see the inventory already knows this.

What they are currently doing is akin to withholding drill results from an ASX announcement, but with some market participants having full knowledge of the outcome.

Surely that is a breach of disclosure?

It is management's chance to finally step up and let the market make a decision based on all facts known to the company and a select few, rather than the highly emotive, irrational trading that we will undoubtedly see tomorrow.

One thing is for sure, if it gets as low as many are predicting here, I'll be in for a trade based on clarification of the issues at auction, the size of the inventory leftover that must have some value, and the graphite play.

If careful, and obviously smarter with how they do it, the cash should last them until the next auction too.

What a schemozzle.

Milesy