You seem to hold, but have no idea about the company.
If you take basic maths and some known data, then the following will apply:
400,000 carats to auction (yet to be confirmed, but will be announced this week, 352,000 three weeks ago so probable)
85 % clearance give 340,000 carats sold
Using GEMs last auction average price per carat, which included a large amount of conundrum, which MUS is not including, their average price per carat was circa $60 per carat.
This calculates to: $20.4 million, so MUS's first auction will not be anywhere near $10 million.
The selling if you did any research is to do with Arena, the CN holder, which has now converted all notes, and nearly left the building, and MUS has still maintained its SP, even with such selling volumes.
MUS Graphite JORC is just something else to consider.
Up to you to decide to stay or not, that is if indeed you have are even invested, however, if you really want to understand MUS then I suggest you take at least 10 hours or so to read Wombat and Ozemania posts regarding financial modelling and the CN, and other comments, as all the questions you are asking have already been discussed.
Additionally regarding the odd structure of the ruby market, how it works, secrecy etc, this has been discussed at length here in the past.
mmm...I am starting to agree with Ozemania, I am starting to feel like a parrot...lol
Hope we can all stand the onslaught this week of the misinformation posted by the extremely ill informed, as they have done very little research into a very unique market.
Cheers
gsmaree
MUS Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
