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Diamonds & Specialty Minerals Summary for Sept. 12, 2014

2014-09-12 19:34 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a mediocre 49-55-161. The TSX Venture Exchange rose five points to 987 while polished diamond prices inched lower. Patrick Power's Arctic Star Exploration Corp. (ADD) gained one-half cent to seven cents on 82,000 shares. Arctic Star streaked to 20 cents in July, helped along by a puff piece positing Arctic Star as the "next Aber Diamond," which was commissioned by a shareholder, David Hodge's Zimtu Capital Corp. (ZC: $0.52). Unfortunately, a spring drilling program at Redemption, west of Lac de Gras, found nothing save a "dull green clay gouge," leaving shareholders gazing at a dull stock chart and perhaps feeling gouged. The shares of Energizer Resources Inc. (EGZ) kept on going today, jumping 7.5 cents to 24.5 cents on 9.72 million shares. Yesterday, an unattributed dollop of gush disseminated by Uptick Newswire suggested Energizer's Molo graphite deposit in Madagascar might feed the big battery factory that Tesla Motors Inc. plans to build in Nevada. (Late Thursday night the Nevada legislature signed into law a $1.3-billion (U.S.) package of tax breaks and other inducements that helped the state attract the world's largest lithium-ion battery factory.)

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