Firstly, thanks to Country Bumpkin for the informative report above. Explains the price movement. Arena would have easily sold off their latest amount of converted shares with 30-odd million traded yesterday. We are seeing buyers retreat because there is no news coming until closer to the auction. I was expecting 2 lots of news this week - Graphite, plus inventory. Both look like being delayed according to CB above.
What did get me excited is CB's comment that
"There is great interest from the Chinese buyers who will not buy heat treated product"
I had emailed the company asking why no Chinese buyers were coming, as they are reportedly driving the demand for the ruby market - but have not heard back yet. The previous report on buyers in the last presentation made no mention of the Chinese:
View attachment 759387
If the Chinese are coming, then I am VERY excited!!!
Reports such as these below indicate massive interest from China, one referring to it as an "untapped market." The Chinese have been the main buyers of bulk rubies from Mogok, Burma, as it is just across the border, and they were happy to do business with Burma while other countries stayed away. Mogok is drying up though ... they need other sources of quality ruby, especially in large, consistent supply.
https://unauthorised investment adv...00-carats-of-rubies-is-really-enough-mustang/
http://www.copyright link/business/...or-rubies-expected-to-sparkle-20170709-gx7itz
https://www.gia.edu/gems-gemology/spring-2014-lucas-chinese-gem-industry
I have said we will get $125-$150 p/ct ... The possibility to go higher than that is very real. But if we have a number of Chinese buyers there as well ... then all bets are off!
