QUALITY ANALYSIS AND APPRAISAL REPPORT FOR CORUNDUM - VARIETY RUBY Origin/ Origem: Serra da Carnaiba, Bahia November 284, 2018/ li 20 le ve 0 Report Number/ Weight/ Professor Norman Michael Rodi G.G - GIA #7535333 Graduate Gemologist/ (1 vada Ex Gem Trade Laboratory ~ GIA Staff - 1986 arm Gemological Institute of America 4/12 opeINDEX/i COVER/ (4? \. INDEX/ IN101( 1 = NON DISCLOSURE, DISCLAIMERS AND COPYRIGHT/ )NPIDENCIALIDADE, RESSALV AS E DIR WEIGHT AND ORIGIN/ "150 ORIGIN we GEMOLOGIST SIGNATURE (98! \!' RELEVANT INFORMATION ON RUBY/ JRMACOES RELEVANTES D. IDENTIFICATION) |) °F 10 \CA0 a STANDARD GEMOLOGICAL EQUIPMENT/ (Jl 1!) M110. GEMOLOE PHYSICAL PROPERTIES OF CORUNDUM ~ RUBI/ § BO CORINDON - RL ASSESSMENT CRITERIA/ (01/105 DF \ PRICE CHART DNPM - IBGM/ !").\ 1111 (DE, PRECOS DNPH APPRAISALY \) 1.) \C 10. CURRICULUM/ (U8) IMAGES OF PARCELS] !\14G1\8 DOS "ACOH Professor Norman Rodi G.@/C~Reg Corum vt Rey) Para 7 SH z edodane vt: Ropar ns obbcb stot he egos tas ean, Pears egress uneaaewiselw ane a INTRODUCTION, DISCLAIMERS AND COPYRIGHT INFRODUCAO, [i ngnes reserved. No rt ofthis QUALITY ANALYSIS AND APPRAISAL REPORT for CORUNDUM (VAR. RUBY) may be ‘aere, reproduced asribueed, oF transmitted In any form or by any means, incuding photecepyin, recording, or other ‘alectrone ar machanea! methods, without the prior writen permission of the undersigned GEMOLOGIST AND the ‘ronal owner of the object described hevein. The ORIGINAL VERSION of this Repsrt is only valid In its entirety, Containing ALL pages a& provided in the footnotes balow, ALL duly Sond o tiie. This report sl bee ul nd ‘old nthe avant nat any parce! or any ofthe sss set heren i tamcared with ar apaned. The récilent of ths Report understands Chat any and all information eiciosedhevein sna remain priteged and shal rot be made avaiable ko any unauthorized thr party. Violation ofthese terms wil ity the report and violators shal be prosecutea under the applkablelep'staton and the ensdicton of So Poul, Brae. Bore any ‘business is transacted, ft le recommended thatthe Gemolegist be contacted inorder to confirm a! Information described herein ‘Ths report wae prapared owing he nom and procedures practiced la rtematiral gem markets and he guidlines ofthe ONPM, specially ‘ome of RUBY overt of SORUNOUN, La inaatasse anaaaa hae nai ibe QUALITY and PRICE nal co DAPM oe a! Incase cl any clacrepancy betwnen the Englth andthe Poruguese versions of this REPORT, he English version sal preva ‘ug mat esses cosine wt yn ert EXCLU pps ov arm fb c In thi assessment, | confirm that the materiale procentod herain are, infact, ROUGH CORUNDUM - RUBY, duly weighed, analyze, tasted, appraised and sealed under the my authority. (ba: Wales are accurate to 8% du ote presence ol water, schist and oterixpuries, or meio deste Lauds. contimo aie 98 materia acu apresontados sao, dle fato, CORINDON - RUDI EM ESTADO at vidamenta pesado, analsado, testa, avalada elacrada sob a minha autor WEIGHT, ORIGIN and PRICE/ PESO, ORIGEIW e PRECO. 7,500 g (SEVEN thousand FIVE hundred grams) of CORUNDUM ROUGH from Bahia. 10 g (SETE mil e QUINHENTOS gramas) de CORINDON BRUTO do Estado da Bahia ‘Sizes (weighta) of individual stones vary from a few grams to over 1509. (Os tamanhos (pesos) das pedras vanam desde alguns gramas a mais de 1509. US$ 3,600,000.00 (THREE million SIX hundred thousand US dollars) 3.600,00 (TRES milhoes e SEISCENTOS 3/12‘Some Relevant Information on Ruby/ informecses Relev Diamonds, rubies, sapphires and emeralds are the fist gems that come to mind in tales oF treasures and riches. Rubias designate red corundum, whle all other colors are categorized as sapphire. Sapphire ‘alone, refers the color blue while all cthers will bear the color pius the term sapphire (green sapphire, es an example), Red stones have been found and treasured for millennia. At first, they were categorized by color. Only somewhat recently were rubies separated from gamet, spinel and other red atones, to take their place Burmese rubies/ Rubl da Birmania in the corundum family. pyetnate Rung! Although rubies are valued taking the 4Cs (color, clarity, cut and carat weight) into consideration, the first and foremost parameter is Its COLOR, It may vary due to secondary hues, but it MUST BE RED to_be a RUBY. Saturation and tone are also analyzed when ‘the value of rubies. ‘The chemical formula of corundum (ruby) is extremely simpla — alurninum oxide (Al,0,). Its hardness is a 9 ‘on the Mohs scale (diamonds are at the top - 10). Itis dense, 4g/cm’ with a high refractive index (1.76). All these qualities enhance the importance of rubies as beautiful and durable rare gemstones, ta no topo 10}, E densa. 4qiem cam un ak tnd r a Due to its simple chemical formula, cubies have been synthesized for almost two centuries. They can be flux grown or ebtained through what is called the Czochralsky pull method (gems, watch components, lasers). Improving the quality of corundum is common practice. A number of treatments is available ang generally acceptable, Heat treatment dissolves fibrous inclusions and adds color and clarity to rubies and sapphires, 4/12 Professor Norman Rodi Ga L—MPSZBTI2015 EES rw epee gry foun Gena of re oo, nla goed ahve en andar wh a ea tr fan apo nvefeco mea wsanrs a een, Ps oth Burmese rubies have always been synonymous with the best ‘qual. Burma has changed its name to Myanmar, but it stil produces ‘quantity and quality. The most recent find is Namya, located in the northem state of Kachin. Rubies have also been mined in Thailand, in the Palin and Samiout distict of Cambodia, as well as in Afghanistan, Australia, Brazil, Colombia, India, Namibia, Japan and even Scotland. ‘The presence of corundum in Brazil has been reported since the 1930s, but always in insignificant ‘quantties and economically non-viable. In the 60s, blue sapphires (in smaller quantity—yellow) with good gem qualities, were found in the River Coxim in what is today Mato Grosso do Sul Other occurrences have show up since then, some with good qualities, however, in small productions with small crystals. Indaié, in Minas Gerais, which maintained a commercial production for two to three years, is currently closed. Bahia has uncovered significant deposits in the areas of Lajedinho, Catingal, Pindobagu, Campo Formoso and Uaud. With these resources, It is clear that Brazil is in a position to provide large quantities ‘of materials for the world market, most of which, though, is more suitable for cabochons and carvings, , i Bape grande importancia 6 5 angal. Pie 5/12 Professor Norman Rodi G,@_~TEE PEED B nova cerseum vt Ruy ea! na cine npema pry fr un nd catagtr of ep. egy mga asa eve eed issn fechas Report wotactve wuts sate cit ish) Pao a ee IDENTIFICATION) IDENTIFICAGAO Method! Wietoclo ‘Amacroscopie observation was made, in addition to the determination of properties such as: Physical Propertie Optical Properties! Proprisdados Fi Propriedacles Opticas 4 mineral eater 2 Jo: miner refractive index! hardness! i © birefingenoes + specifi weight “= + pleochicismy " brightness! absorption spectrum! © cleavage! =i + pleochroisr S traoture 1-9 + fluorescence! © crystal habit * transparency! 8" Standard Gemological Equipment! Eq uipamento Gemologic a + poleriscopel roisrscone +) rafractometer J 29100 © prodison scale! 2221 preusen 2 epecroscope xpact tealiper! pace a Socal eraser car snietoecope 10x — Eth mictassapi = MOHs hardness KiY © + loupe 10x/ 8 ie © chelsea fiero ohio Se ilies ba 2 twoozers! pi fui! + ichroscapel ovosv00 6/12 Professor Norman Rodi G,@.—~Ca EEE Physical Properties of Corundum Propriedades Fisicas do Corit Chemical classification’ Classificacae quimica: oxidel Gxido Color! Cor Typleally gray to brown. Colorless when pute. Trace elements produce virtually any color. Chromium causes red in rubies while iron and titanium cause blue in sapphire. Streak! Taco Colorless (harder than the streak plate) Incotor (mals duro do que a placa de Luster! Lustro ‘Subadamantine to vitreousy Subacianian\ine a vitieo Transparency ‘Transparent to opaque Transparéncia ansparante 2 op Cleavage None. May display parting perpendicular to the c-axis, Clivagem Rube Hardn 9 on the Mohs hardness scale/ 9 %9 esis Nil SG) Densiciaclo: 3.9 glem®- 4.1 glem? (high alin) Chemical Comp. Al.O3 Comp. Quimica SG! Densidade —-3.8.g/em®- 4.1 glem® (hight 21a) Crystal System Hexagonal Sistema Cristal. Diagnostics hardness, high SG, hexagonal XL, conchoidel fracture, luster Applications abrasives, laser, gems, carvings, watch industry 7/12 Professor Norman Rodi G.@/&~DE Hy nous cornu ar Ruby] aa Fe ES condtonn serena harem (Ropor nv efacive mihact he gta ASSESSMENT CRITERIA CRITERIOS DE AVALIACAO ‘The three primary parameters used internationally to assess and appraise rough ruby are color, clarity and size, Other factors, such as, origin, shape and the potental for treatment are also taken into consideration, Os tis parametios a‘imordiais utiizados Internacio Color! Cor ‘The material is analyzed for the esthetic potential of its color after being fashioned into cut stones, Clarity! Pureze ‘The clarity grade reflects the inside of the gem and how free it is from inclusions. This affects how it handles ight, its brightness and the display of color under different ight sources. © grau de pureza refiste o interior da gama e s: foot Retencaice Preyer ‘PREGOS DE GEMAS DE COR LAPIOADAS (Cont) cla mperarie a revedugte ou c'asd0 come reterérea sda va'das somente com a respettua reprodygde cy clagia, er igual destage ¢3 pag na O7 ~ Precasgses spor quate em edares ar Prva otem so desta ubealea as SExy cata) RUBI- PROCEDENCIA GENERICA - AQUECIDO Fraca Mevesit) 2-3 de0.s0a tet 18-20 fa2et Ea Rade Bade fase Professor Norman Rodi G.G%Eo CES Rough carnduvr Rby) Paret 7 Sy ‘ nan rponeiaSury for ear esteaton of pcr ae Teo paroh ce teahe aoatan ane oe et. APPRAISAL! AVAL Pricee of mineral materials (rough) are quoted in American dollars por {gram (US$ig) oF kilogram (USSIKg) 2s posted on Intemational gem sites and in commercial centers spanning the globe. The Brazilian Government, ‘through the Department of Mineral Production (ONPM) publishes, from time to time, relerence guides and charts forall mineral categories and their uals hapiriwww dnpm cov.bet wpa gemologiaibgm.com br/laboratoriawp-contentJuplozdsi2011/1 Vor Total weight of parcel (kg)/ > 7,800g (seven thousand five hundred grams) 7.500g (sete mil e quinhentos gramas) Range of weight per stone/ \ 0 de 4g to over 150g/ 39 2 mais ce 159 Yi 36% (7500g x § x 0.35 = 13,125ct) jotencao: 38% ‘Average Price per carat: Prega Médio por quilate: US 275.00/ct Average Color Grade ee ai Average Clarity Grade za média 2 Total commercial value of the lot (see chart on page 08) US$ 3 600 000.00 (THREE milion SIX hundred thousand US dollars) RES MIL 35 mul : 9/12 Professor Norman Rodi G,scieaemacesnrraimeeetts pein nom nme nt Norman Michael Rodi BFA, G. G. (60 sea ol, ard ater, pe matory Nebearé Winship 5611 68008189. Shypenorns8 ‘us DeSamvele Cato Neves 46, gt 94, Vlad, to Pano a4726-240 1984- present ~ USA - Brazil, Luxembourg Former Staff Gemologist at the Gernolagical Institute of America Laboratory. Gracing of polished dlamends eccording to stnet ‘GIA standards which include the 4Cs (Color, Carty, Carat Weight and Cut, plotting of inclusions, reeutting decisions and origin ‘of color analysis. Rough diamond sorting and valuation, considering best returns, weight retention, final color and clarity, reparation of manifests, on-site negotiations, marketing, expediting and logistics, including the Kimberley Process Certificate. In-the-fleld knowledge of the Brazilian diamond reality, its pitfalls end opcortunities. Negotiation with potential partners {mining companies and ONPM concession holders). Assessment of areas anc preparation of strategic business plans for each specific mining profile Partner in aquamarine mine in Catul, MG. Bench jeweler and jewelry designer (Rhode Island School of Design|. ‘Bolsa de Diamantes Minérios ¢ wetais 2016~ present - Sao Paulo GIA ALUMNI ONLINE DIRECTORY Expert Gemologst and Business Consultant. Responsible for ‘gemological procedures and appraisals Won HICHAEL RODL membourg Exchnge ‘Booed Membe TIED fuse Collaborated with Sergio Martins, owner of Store Word, In sorting ‘and marketing emeralds and as 3 liaison between the US and Bra. (Pst. =cNEN cpa = RAAEL 1390-1994 (fuur years) Gemolagisi,! Cousteau calaborated under Or Maia Siva Gorski atthe nuclear res2arch facity atthe Univesity af Sto Paulo on a project invobing calor treatment in Brasilan gemstones, ncucing dlamonés, blue tops, quartz and imperial cpa Staff Gemologitresponsibie for all aspects of damond grading and diamond reports. Invohed in training and counsaling of new staff. The GIA lab ie the numer one teference in the dlamond industry and a vital tool in networking through trusted channels. The contacts established during this time ae a solid foundation for activites in the gem busines. 10/12 Professor Norman Rodi GNorman Michael Rodi BFA, G. G. 60 anes, easado, pai de 3, tripla eldadanis Gel =g5 11 968005149 Skype norms [Ro Dr ure ge Cato Neves 48, 4.0194, Vl Creo, Sto Paulo CEP 4726240 Gemdlogo Graduado pelo GIA ¢ ex-membro de corpo de gemblogos do Laboratérla do Gemological Institute of America. Consultor nas éreas de gemelogia, governo, educacdo, energla verde e projetos de cultive de algas. Desenvolveu estreltos lacos com a China, Africa e, internamente, no Brasil, ‘essencials para o mercado de ciamantes. Sua forte rede de contatos inclul desde representantes da classe politica, empreendedores e mineradoras. Envolvido em negociagBes com @ Marinha do Brasil para o fornecimento de embarcag6es militares de interceptagSo(: ), como Governo do Catar para 0 fornecimento de Equipamento de Combate a Incéndios ( de, mais recentemente com 0 Governo ds China envolvendo solugées verdes para c tratamento de residuos sélidos (Plasma Gasification Melt Closed Cycle - ). Todos esses projetes foram essencials na formacdo de uma forte perspectiva de negécios, 18h preseane = USA = Broa, laneinbourg Marto da Corp Garlic so ahoratvio do Gemolgl lestue of America Avalacdo quatatva de iamantes segundo o8 tos padres €0 GIA ncinde es Cs Cor, Cares Pura, CT [ste ~Peso) « roparSes (Cl), napeamente de ncuses, dc sées a espe {Ge re4pog80, gem decor, vaio de selego de diamantes txtosconsiderand 0 melho estado, retengia de psa, core purern fia, peeparao de romanels, negaciartes presen marketing operates e logistic, inlvnco a obteng3o do Cetifendo co Proceso Kimberey Conbecenento ce campo ds real dade to mercado bralera de Samartes, suas emadias¢opo-uniades. Negoiao com prceres em potecil, lam mineracoresicenlades a operar pelo ONPW. Esto Ge deas ero em vst o plan estategico de negicis. ra cada perl de produtor. Fo séioem una mina de uss marina er Cu MG. Joao e designe de jas formado pela Rhode land Scho! of Design. Bolsa de Diamantes Minérios © Metais 2016 presente $50 Paulo ‘Gemologo Perto Consuitor ce Negécios. Responsével por procedimentos gemoligicos eavaliagdcs. ‘Wuxembourg Diamond Exehanze |PEN.=CNEN (CNPo— RHA) 1880 = 1894 (oucira nias) Germoogist/ Consultant {olborou coma Bra Maria Sina Gost ro PEN-CNEN 3 Universiade de Sf Paulo em um projet de benefiirento da corde ges brass, Incisive de darartes, opto a, quartz € tote imoerie Gemolonicl Institute of America Laboratory Membre do Corgo de Gemtogos do abort, rexpontvel por tedoso aspetos de ands qultaiva de lamances na confercio doce feaos, Envohido no treinareno de novos emdloga contratados para oloberatii. © lzboratério do Gar ope stitute of America 2 relertncia mundbl pee o merce «par rts ens ferramenra wal para se formar uma rede de contaosconits. Os cortatosp ‘venient das inher tldedes no GA ormaram urn ore base ara as atsdes de hale. ering pote 1/12 Professor Norman Rodi G,Professor Norman Rodi G.G.__