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MUS, MUSTANG RESOURCES
bg99
post Posted: Jul 16 2017, 12:19 PM
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Quote from http://www.miningbusiness.net/content/gemf...8m-ruby-auction

" SINGAPORE, Jun 15
Facing 2 takeovers, Fabergé owner Gemfields has grossed a record $US54.8M at a Singapore rough ruby auction, an all-time high for any Gemfields auction.
895,848cts of rubies from its 75%-owned Montepuez mine in Mozambique, were sold from a total 1.04Mcts at an average $61.13ct. The 8 Montepuez auctions held since June 2014 have generated $280.5M.
Earlier this week, China's Fosun Int’l joined Pallinghurst Resources, Gemfields’ largest shareholder, in bidding for the UK company, which also has 75% of an emeralds/amethysts operation in Zambia. "

At this price the planned auction in Oct for MUS for 200000ct would gross US$12.2m

 
blacksheep
post Posted: Jul 10 2017, 09:59 PM
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Chinese demand for rubies expected to sparkle
Jul 9 2017 at 11:15 PM
Updated Jul 9 2017 at 11:15 PM

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The takeover of London-listed gemstone miner Gemfields will leave an Australian ruby junior as the only direct-listed exposure to a burgeoning sector keenly watched by China.


QUOTE
Mr Meyer said China was expected to emerge as a greater source of demand for rubies and it was possible Fosun's acquisitive behaviour could continue.

"It may be that having developed an interest in rubies, they could look to buy the project next door, which is Mustang," Mr Meyer said.


Read more: http://www.afr.com/business/mining/diamond...z#ixzz4mQg560Mi

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

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Said 'Thanks' for this post: bg99  
 
bg99
post Posted: Apr 28 2017, 03:36 PM
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In Reply To: bg99's post @ Mar 9 2017, 04:39 PM

ouch..... there goes my profit on this one, GEM (next door) sold $225m of rough rubies in last 4 years though so its not the end of the world for MUS

 
bg99
post Posted: Mar 9 2017, 04:39 PM
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In Reply To: bg99's post @ Mar 6 2017, 06:52 PM

another good announcement today to go with the graphene one a few days ago...... SYR price seems to be quite affected by the competition on graphene

 
bg99
post Posted: Mar 6 2017, 06:52 PM
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Trading a bit high today on decent vol given 0.077 placement, might bode well for post issue

 
 


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