When expecting the auction ressult ann en when annul TH, page-231

Your commentary is starkly reminiscent of similar unnecessary panic back in May when SP went from 10c to 3.5c. I can only speak through experience my self and in fact many of the current LTH when i say things are not so bad and exaggerated as people making it out to be.

I can only encourage you to do some more research into this company it has alot of unrecognised and appreciated value. Dont get fixated on what you may initially think is a poor auction result when in fact it is not through the feedback and improvements that can only be made.

Regarding the auction i do not believe the stone qualities were of the issue, buyers were willing to pay as they do have strong demand. I feel that where it went pear shaped is the grading and structuring of the lots within the schedule. Remember this is a bulk ruby auction individual lots were to my knowledge and opinion not for sale, you could place bid on an individual lot for the company to consider which could be negotiations currently but the bidding for the auction was for entire schedules (the whole booth) not just one parcel in a booth. Please see and read https://hotcopper.com.au/threads/when-expecting-the-auction-ressult-ann-en-when-annul-th.3796848/page-34?get_post=true&direction=previous#.WffhWrpuKF4 @lidds recently shared.

You will also notice the attention CJ gave to the detail in ensuring almost identical auction structure, set up and facilitation. People need to also realise this; CJ did not sit a room on his own making the parcels and grading the rubies and structuring the lots himself. He would have only followed the advice from the professionals or consultants appointed instructing. Grading and Lot Assigning is not a service that can be easily bought but is rather an in-house skill that can only be learnt. Considering their first attempt 8/21 lots not looking to shabby now appreciating all that would have needed to be involved.

Operationally, the company is well placed to scale as a function of revenue. If auction is indeed greater than US$10Mil they can fulfil their intentions completely. If not is no big deal as they can still scale up significantly quite cost effectively at the cost of approx $1mil to swap out the current rotary pans with a pulsating jig. The effect of this immediately would double throughput capacity as the bottle neck currently is in the back end with the rotary pans AND also improve the recovery and condition of rubies otherwise potentially damaged through dragging or jamming interaction with the paddles in the rotary pans.

On the Exploration front we are setting a new world class example of what is possibly the most sustainable, efficient and successful program though our ADP. Our land holding is very rich in secondary ruby resource, multiple deposits found extensive across MUS's land. These are only to increase to potentially forming a 10+ long life JORC resources.

MUS should also be sitting on potentially $5-6Mil cash on hand from Arenas conversion of options and CN tranches, @ozzimania has already confirmed this likely possibility. Cash burn is also less due to wet season of upcoming wet season in Mozambique.

Not going to even mention graphite as thats an entirely other growth story occurring in the background, but before you or anyone else writes MUS off as a failure because of a knee jerk reaction event i strongly encourage you as well as others to dyor, plenty of resource on this forum just ask @wombat777 or any of the other great posters with good background knowledge they are all kind and willing to share.

Dont be a slave to emotions, but rather good honest research and study!
Good luck