Exceptional Stones: Size range, page-46

I keep reminding everyone that if you look at Gemfields there is big money in the stones that are not special - while I am sure the market will over react if the big stones are not worth millions, GEM are producing over 10 million carets a year, with NPV of close to a billion USD - from their financial statement:

RUBIES

Continued production growth of rough ruby and corundum of 10.3 million carats (2015: 8.4 million carats);
Higher grade achieved of 35 carats per tonne (2015: 26 carats per tonne);
Revenue of US$73.1 million, with an average price of US$45.50 per carat;
68% increase in higher quality rough rubies recovered;
Marginally lower unit operating costs(b) at US$2.54 per carat compared with US$2.57 per carat
Cash rock handling unit costs(c) of US$6.06 per tonne (2015: US$6.16 per tonne); and
Maiden JORC Resource and Reserve Statement in July 2015 by SRK (on a 100% attributable basis):
Total Indicated and Inferred Mineral Resource of 467 million carats;
Probable Ore Reserves of 432 million carats;
Projected 21-year LoM; and
NPV of US$996 million (based on a 10% discount rate).