RE:RE:RE:RE:RE:RE:wonder whatDiamondhunter it is you that knows not what you speak .
The value came in at $149 US per carat in the feasibility study. PE promoted Pumped and sold the idea that it was higher. this was after the first results came out and PE had them revise the figures. (He wasn't happy)
When the first sale came in he tried to mask it by not including the lower value diamonds. The first sale came in at $127 US per carat from 49420 carats . PE then the CEO in the press release 26 jan 2017 stated they had sold 75% of the diamonds offered for a total revenue of 6.27 million US.
Then on 7th March 2017 he came out with the the results of the second sale 277646 carats but not the average price or revenue.
When the first quarter results came out on march31, 2017,we see the snake oil charm of the CEO . He could not lie in an audited financial statement to the shareholders.
The reported numbers for the first sale when you include the withdrawn diamonds is now 96,000 carats at an average price of $67 US . That means they had sold the other 46,646 carts at an average of $3.28 cents US.
The second sale Now shows 231,000 carats instead of 277,646 at an average of $71 US for a revenue of $16,484,000 US.
The third sale was for 195,000 carats at an average of $76 US for total of $14,794,000 US.
The average for the forst quarter was $72 US per carat.
By this time the cat is out of the bag a project that had been financed on the premise of revenue from sales of $149 per carat was now a mere $72 dollars per carat. The company was in trouble and PE had lost all credibility from the institutional and fiancial world. The stock started to drop and PE bailed on June 8th 2017.