More signs of improving prices - this time even more relevant, since it is straight from the South Sea Pearl auctions: http://www.pearl-professor.com/2010/01/on-upswing.html
"More promising news from last weeks Shima Shokai South Sea pearl auction in Kobe; the 42nd annual auction trumped the market-depressed numbers of 2009 with 701.64 million versus a dismal 236.1 million.
Of 429 lots on offer, 211 sold for an average price per momme of 6,375.46."
ATP used 6,600 yen/momme in their hy report to value the oysters, so at least that is ballpark, although they may have been stung by the high AUD rate which may still lead to further write-down in AUD-based value of biological assets. However, signs are that it may be a better year - at least with the market moving again, there is the opportunity to turn inventory back into cash.
ATP Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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