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Diamonds & Specialty Minerals Summary for Sept. 24, 2014

2014-09-24 18:17 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a poor 46-68-151. The TSX Venture Exchange fell one point to 924 while polished diamond prices slipped 0.2 per cent. George Read and Ken MacNeill's Shore Gold Inc. (SGF) slipped another 1.5 cents to 25 cents on 272,000 shares. The stock has been oscillating gradually around the 30-cent mark as investors await the seemingly certain government approval of its mammoth Star-Orion South diamond mine in central Saskatchewan. Unfortunately, the investors and bankers who might supply the $2-billion needed to build the mine are far less approving. Richard Clark's RB Energy Inc. (RBI) slipped again today, dropping one-half cent to 16 cents on 2.28 million shares as it seeks cash to fix its problematic lithium mine near Val d'Or. The flaws are "non-fatal" it says, for the mine at least, but the company's stock has now lost half its value since it said last week it hoped to sell up to $88-million in convertible debentures.

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