RE:RE:RE:RE:Geologists Piled Higher and deeper THE CALANDRA REPORT: Subscribe
Nick Houghton of True North Gems is fit with a new hip. His Greenland ruby mine developer is fit with a fresh stock price and rising gemstone prices.
Those are two special situations that are working well for the gemologist.
Now, I will NOT send the picture our True North Gems CEO sent of his scarred and swollen leg. But I will attach a stock chart for TGX (ticker in Canada).
The 55-year-old British jewelery designer is fresh out of hospital and says he is into a "speedy" recovery. Nick is an active sportsman and glad to have the ailing hip replaced.
TGX shares are active these days. Mr. Houghton says a ruby auction the other day is helping.
"I think the Gemfields ruby auction results announced yesterday -- the average price of $18 per carat for rough stone makes our project look very strong. When we did the pre-feasibility study, we used a figure of $2 per carat as there was no known prices for the material and we did the valuation when the market was depressed," he tells us.
This first ruby auction from Gemfields for Mozambique stones sheds a light on a growing audience for colored gemstones. See article.
So. Make that three special situations: 1. Healing hip; 2. selling and overextended rabbi; 3. rising ruby prices. Even if they are from Mozambique.
Did you say selling rabbi?