I would like to highlight just sections (3 paragraphs) from the news article although it is worth to read in full.
1) With its high proportion of quality stones, MUS’s October auction is likely to bear a strong resemblance to Gemfield’s 2015 auction, which had an average realised price of US$317 per carat, comprising 90,000 carats of higher and medium quality rubies for US$29million.
Just stop and think where we are 2 years later with higher prices and high quality volume wise.
2)
The global polished ruby market size exceeds US$2 billion per year. This makes up a large chunk of the total coloured gemstone market (ruby, sapphire and emerald) — estimated to be worth US$5.9 billion per year. That market grew by 13% in 2015, while in contrast the market for diamonds fell by 17% from US$84 billion to US$70 billion.
China is viewed as a yet untapped major growth market, with rubies holding particular religious and cultural value.
China is a the big red elephant in the room. Why Fosun looked at Gemfield? Again just think for a second. We may appear on their radar very soon which is not really what I would like, at least not at this stage.
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