Thanks 4 the memoriesshould have said ''FRANKS'' instead
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.