Sit and hope or take actions for a better outcome, page-85

First 85 Last

Share
Profile

Follow
Teddyward

9,268 Posts.

832

10/11/17

13:56

Post #: 28684752
Share

Originally posted by reaz_i ↑

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.

Expand

Hi

Could yugo back to the buyer and confirm which lots and the quantity / quality actually sold? Totally in the dark as to which parts of the inventory sold and more so what parts remain. Just how many carats of the grey hexagonal crystal ruby was put up for auction and did any of it sell?

MUS Price at posting: 3.9¢ Sentiment: None Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

Bitcoin: Current State of Play & Where to Next | Swyftx

WNX

Wellnex sees first special access scheme prescriptions for new Wellness Life brand

EQR

EQ Resources transitions historic Mt Carbine tungsten mine to owner-operator system

Week 33 Wrap: US recession fears forgotten; RBNZ’s surprise rate cut; more iron ore trouble

VTM

Victory Metals dips -8% even as company set to grow heavy REE resource at North Stanmore

SVL

Court of Appeal upholds environmental group's challenge to Silver Mines Ltd's Bowden project

ARD

Argent begins search for VMS mineralisation at Kempfield Cu-Pb-Zn-Au-Ag play in NSW

Emerald & Azure score Digger & Dealer awards

IMD

IMDEX to receive $10M in out-of-court settlement with Boart Longyear over downhole tool patent

M2R

EIS co-funded campaign sees Miramar kick off maiden drilling at Bangemall, Gascoyne WA

There are more pages in this discussion • 196 more messages in this thread...

First 85 Last

Add G79 (ASX) to my watchlist

Sit and hope or take actions for a better outcome, page-85

Top Stories

Bitcoin: Current State of Play & Where to Next | Swyftx

Wellnex sees first special access scheme prescriptions for new Wellness Life brand

EQ Resources transitions historic Mt Carbine tungsten mine to owner-operator system

Week 33 Wrap: US recession fears forgotten; RBNZ’s surprise rate cut; more iron ore trouble

Victory Metals dips -8% even as company set to grow heavy REE resource at North Stanmore

Court of Appeal upholds environmental group's challenge to Silver Mines Ltd's Bowden project

Argent begins search for VMS mineralisation at Kempfield Cu-Pb-Zn-Au-Ag play in NSW

Emerald & Azure score Digger & Dealer awards

IMDEX to receive $10M in out-of-court settlement with Boart Longyear over downhole tool patent

EIS co-funded campaign sees Miramar kick off maiden drilling at Bangemall, Gascoyne WA

Featured News