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Diamonds & Specialty Minerals Summary for Oct. 3, 2014

2014-10-03 19:09 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a middling 50-53-167 as the TSX Venture Exchange reclaimed five points to 882. Polished diamond prices fell 0.5 per cent and are down up to 7 per cent in the past few months. Meanwhile, diamantaires worry that a big tender of rough by De Beers could spark another correction. George Read and Kenneth MacNeill's Shore Gold Inc. (SGF) lost one-half cent to 23 cents on 312,000 shares. Shore is seeking $2-billion to build a huge mine in central Saskatchewan. The mine could be profitable, assuming rough diamond prices beat inflation by an average of 3.5 per cent yearly, over the life of the mine. (Shore's rivals are also bullish, but to a lesser extent.) There were no bulls anywhere near Richard Clark's RB Energy Inc. (RBI) today. The stock tumbled six cents to 6.5 cents on 30.89 million shares after Mr. Clark said its big convertible debenture offering is in difficulty, so RB may have to close its problematic lithium mine near Val d'Or.

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Kalt's claims expire in March and Strike's first option payment to Kalt is in November. The Kalt claims surround GEM and not North Arrow. In other news NAR is building a new kitchen shack and core shed today.

Posted by Donny Brasco at 2014-10-03 20:00

Here's a map from Strike:

http://www.strikegraphite.com/news-releases/news-releases/74-strike-graphite-to-acquire-13-million-acre-diamond-exploration-position-adjacent-to-pikoo-diamond-discovery-settles-majority-of-debt-for-equity.html

And a map from Canadian International:

http://www.cin-v.com/#!Pikoo-Diamond-Camp-Map/zoom/c159e/image12uk

Will

Posted by Will Purcell at 2014-10-03 21:00


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