The date for the 2nd Auction is unknown at this stage. Likely they won't leave it until June 2018.
They have over 400000 carats now, what they took back and what was left behind + what has been mined since. Even without the upgrade going ahead they can still pull the rubies out at a reasonable rate. Sizing/Grading/Sorting issues aside it should not be too long before they have 750000 to 800000 carats.
Cash issues as well, I'd be surprised if the 2nd auction is any later than April 2018.
10% Share placement facility in the upcoming AGM will be the most likely avenue to short term boost to finance to get us to 2nd Auction.
A better path than the loan sharks option for sure.
As for future Graphite mine, JV, Farmin or outright selling most likely. Required capital to start the mine will be huge.
MUS Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
