Ruby Fever, page-48

that can't be said unequivocally by any one at any stage, when factoring in PE, growth, graphite, ruby jorc, current and future opex/capex, royalties, tax exemptions, other outgoings, etc, etc, the list goes on, even if all were known exactly it would still be an 'estimate'...but at 17.5 cents where the SP is now I would suggest that reflects the extreme low side of what all are guessing the avg. $'s per carat will be