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Diamonds & Specialty Minerals Summary for Nov. 7

2014-11-07 20:03 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a sparkling 73-38-160. The TSX Venture Exchange jumped 18 points to 770 while polished diamond prices inched lower. Lukas Lundin's Lucara Diamond Corp. (LUC) traded actively and gained some ground, rising 16 cents to $2.40 on 1.90 million shares. Lucara will reveal its third-quarter results Monday and it should be another sparkling quarter, thanks to sales of huge and top-quality diamonds from its Karowe mine in Botswana. At the opposite end of the spectrum, Michael England's Caribou King Resources Ltd. (CKR) traded 3.89 million shares, closing up one-half cent to one cent. The company, which has been silent for the past two months, will roll back its stock 1:15 on Monday. The company sampled high-grade graphite at Buckingham in southwest Quebec during the summer. It also completed 1,200 metres of drilling at Mulloy, a graphite project in Northern Ontario near the Zenyatta Ventures Ltd. (ZEN: $1.95) discovery at Albany, but failed to hit graphite.

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