IMO, I'm as numerate as the next person: perhaps a bit more.
There are 5 stones consisting of 76.65 carats which according to CJ are "high quality rubies"
The same report cites 5 carat + extra fine rubies being worth $40K USD/carat.
Now let's assume its all about maths which should be no worry to you at all.
Cut rate: lets say a nominal 50% = the offcuts worth an extra $10K
& cut & Polish say $2K a stone
& let's assume that these stones are only worth half of what CJ says extra fine rubies are worth wholesale:
Thats 38.324 carats x $20K USD/carat= $766K (offcuts offset the cost of cut/polish)- not loose change!
By the way, had these stones + the other 6000 carats been used by the Mozambique Government
as a basis for levying the 20% export tax at time of export on MUS's inventory, then MUS would have had a further liquidity problem, IMO.. With the current auction arrangement, the Mozambique Government will likely have to wait for its export tax until the auction qualifies value and as such the whole valuing process is presumably transparent.
MUS Price at posting:
4.2¢ Sentiment: None Disclosure: Not Held
