gemfields ruby auction, page-75

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Davisite

19,434 Posts.

6527

09/11/17

09:11

Post #: 28629843
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Originally posted by Larkin ↑

Your somewhat right. Not enough larger stones to keep the buyers happy.

Our Plant is where Mustang needs to focus its recoveries. Carats per tonne have more than doubled between june - october. Stones being recovered are larger.

need to:
Ramp up processing from pit LM01
Keep looking for new higher grade deposits
Cherry Pick artisanal material for larger stones.

" As of 26 June 2017, the total bulk-sample size that has been washed is 41,466.5 m3"
"As of 26 June 2017 total of 9,620.56 carats have been recovered from the bulk sample pits"

"Mustang is also pleased to announce that processing of gravels from bulk sampling in the key focus area of the new licence 3km south-east of the plant (Pit LM01) is yielding high-quality secondary rubies (Figure 1). To date, 5,692 m3 (8,823 tonnes) have been processed for 4,445.3 cts. including consistent recovery of high quality stones larger than 3cts (classified as “Special/Premium Stones”)."

"As of 5 October 2017, the total bulk-sample size that has been processed and washed on site is 108,913 m3"
"As of 5 October 2017 a total of 60,445 carats have been recovered from the bulk sample pits"

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Guess what MUS has to do when they have processed 150,000 tons of bulk material - pay US$1.5 million or give the leases back to Regius Resources for free and cancel all debt.

MUS Price at posting: 4.2¢ Sentiment: None Disclosure: Held
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