Genovese posted that there was an knock back of an offer before auction ... refer following link to post
https://hotcopper.com.au/posts/28189272/single
1. Was this factual?
2. What / who was the source?
Only Genovese can answer the above questions.
and more importantly
3. What was the value of the offer?
4. Was this indicating lower than previously disclosed (over $100 per carat price)?
5. Did CJ know about the offer? One would suspect that Managing Director would know before Genovese.
6. Why wasn't this offer and amount announced ... considering it was important / critical to keep shareholders informed ... withholding this info provided insider trading advantage to those in the know.
If you do a thread view and have a read, this post gave that the rubies were in high demand and were going to all be sold before auction ... as happens when a property is highly sought after and a great / about market bid is made.
Hindsight, proves that this was not the case ... and the value of this offer (which must have been low and indicative of quality) should have been disclosed to the market.
I'm sure we will all survive tomorrow, albeit poorer.
Zippy1
