I hope everyone had a merry Xmas and am hoping that 2017 is a...

I hope everyone had a merry Xmas and am hoping that 2017 is a good year for all concerned.

Without a clear path to monetising the rubies, my view is the company will pour more and more money into the project.

There needs to be an offtake/ sales agreement with GEM Fields or even some group like De Beers so that full production is monetised.

With an offtake, revenue could be generated within 30 days from digging up the rubies.

Currently money is being poured into the ground and the rubies are not being sold.

While $2.8m is a good raise, it can be used quickly.

Even if rubies are dug up and polished, if they are sitting there, no value is attributed to shareholders.

To get better upside a JORC may be required. However it may be better value to leave it, however the project will trade at a discount.

My view is that the graphite will not come of anything. It was used to boost the share price.

My view is that the only way the share price will increase is when full production occurs with regular revenue.

If not then further capital raising will occur and there will be 1B shares on issue, with not much achieved.

Let's hope 2017 is a good year.