Sit and hope or take actions for a better outcome, page-83

DISCLAIMER: This is an opinion of an individual only. Please don't make financial decisions based on the opinions below. Please DYOR.

Had a discussion with a buyer who was actually at the MUSTANG's ruby auction-

Key takeaways:

1. V.P. is compiling an article on Mustang's maiden auction to be released in about two weeks time. (This makes me feel very uncomfortable as it closely matches the date of Mustang 's meeting with the shareholders. If that meeting turns out to be positive, the effect could be nullified by VP's article as a potential source for downramping the SP value again).

2. He expressed his utter surprise on how the rubies were bagged, totally ignoring the buyer's point of view. In saying that, he also mentioned that same happened in Gem field's first auction, but later they corrected that in their next auction.

3. In general Mustang 's rubies are pinkish and more of a sapphire than a ruby. Gemfield's rubies are of better quality compared to Mustang's. But that doesn't mean that Mustang won't find similar quality rubies from their mining area (he knows about the mining areas of Gemfield and Mustang and their proximity).

4. The unsold rubies at the auction are sellable. If they are graded and packed properly as per buyer's demand, they will fetch value. As mentioned in point 2 above, Gemfield repacked their unsold rubies and sold them in the following auction. Hence, the unsold Mustang rubies are not worthless rocks or paperweights.

5. It's still too early to judge the outcome looking at the cover page of the auction.