I don't like bringing back a sore topic but thought, with the...

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lou2931

28 Posts.

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14/02/18

15:18

Post #: 31052806
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Originally posted by Davisite ↑

I actually got blasted last time for downramping when I pointed out before the auction that MUS was a high risk company and suggested people didn't invest more than they could afford to lose!

I have never been an up- or downramper. I was (and continue to be) very positive on the ground MUS owns and think it is massively undervalued by the market. I have continued to hold through all the ups and downs because of this in spite of all the dubious management decisions and activities. It continues to frustrate me when I see the same poor decisions being made (like not communicating fully with the shareholders).

Of the rubies/sapphires that were taken to auction only a very small percentage sold. The average price realised across all rubies/sapphires put up for auction was only US$1.23. The average that was sold was US$24/ct and the best realised US$1600/ct.

If we want to be positive about the last auction it is the fact that MUS had some stones that achieved US$1600/ct. This proves that MUS's ground is capable of yielding high quality rubies which is something the many haters continue to deny. The ground has the potential to be as good as Gemfields, MUS just needs to find the good stones. This could be the time.

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I don't like bringing back a sore topic but thought, with the general meeting coming up in early March, the specials from last year.
I recall from the last meeting that the BOD confirend that any shareholders wanting to see them should simply ask.
I wrote to the company and asked them to bring the specials, and any other worthy rubies, to the next meeting. I don't understand the logistics, or costs, of doing so but thought it wouldn't hurt to ask.
I'll let you know what I get back.
It may be prudent for more investors to ask the same thing. The meeting is 2 1/2 weeks away. I am in Melbourne and, as I did with the last 3 Sydney meetings, will be attending.

MUS Price at posting: 3.4¢ Sentiment: Hold Disclosure: Held
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