I had the same thing. No matter how I tried to be conservative I kept getting ridiculous numbers that did not fit with the SP. I kept looking at GEM, then looking at MUS, back at GEM and could not make the two match up.
In the end I decided that the problem was the terrible history of MUS combined with the Australian market not understanding the gemstone market. In hindsight I think our MD and his partner should have taken their lease and listed on the LSX not here. Anyway our gain.
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