Pretty sure they were doing that calc as in 70 carets (specials) in 70,000 carets (total) which is 0.1%. Nominal numbers but in line with actuals at the time.
Carets are all they have to measure with right now, so how else would they have possibly calculated it?
So it basically 0.1% by weight alone, % by value currently unknown.
Maybe softening up the market for specials going for tens/hundreds of thousands rather than millions as might have been construed from previous announcements, plus future specials going as roughs which my research indicates are one third to one quarter the value of finished stones and possibly a lower ratio for large stones depending on shape etc. Once set into jewellery the mark-up is anything 100% to 300% again, typically.
Market doesn't know what to think, because the market has insufficient information right now and no similar plays to gauge by except GEM(like if it was gold), so the default state then becomes panic for no actual reason, just fear there might be a reason. Once the rush for the door starts in sufficient volume then it is all "Rumour, Fear and the Madness of Crowds" -
So IMO the future is not clear but it is also not cast in stone as very bad - I have always been in MUS for the nearology to GEM because of the alluvial nature of the deposits and Paul Allen (ex GEM discovering geo) being on board. I can't believe the current market cap will be anywhere near rational after results of first sales based on the GEM sales.
