Ann: Ruby Project Operations Update, page-9

Are you serious , the auction was a complete and utter disaster , more so when you had all the expectations of a successful auction with the MD stating " north of US$100 per carat ". They had pretty pictures of lovely rubies then as well , but what happened ...could not give them away.
I have been in this for a long time and have a large parcel , and nothing would make me happier that for the SP to go up substantially . But there is no way I am going to carry on as if this is all roses and chocolates.
The MC is $18M for a reason , nothing to do with HC , your rose coloured glasses or my pragmatic opinion.
Good luck.