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Diamonds & Specialty Minerals Summary for Nov. 11, 2014

2014-11-11 21:11 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a dreary 46-52-173 as the TSX Venture Exchange gained six points to 772. Polished diamond prices fell 0.1 per cent and are off 3 per cent since summer, a fact perhaps unnoticed by Howe Streeters touting mine plans based on cheery forecasts of rapidly rising rough prices. One of those promotions, Ken MacNeill and George Read's Shore Gold Inc. (SGF), fell one-half cent to 20.5 cents on 34,000 shares. Shore is still waiting for approval of its $2-billion Star-Orion South mine in Saskatchewan. It is also looking for the $2-billion. James Nelson's Terra Firma Resources Inc. (TFR) fell one-half cent to one-half cent on 1.64 million shares. The company plans a change of name in conjunction with a much needed 1:10 rollback of its stock. The company does have some mineral plays on terra firma but their prospects seem ethereal. The proposed new moniker, Apple Capital Inc., suggests Mr. Nelson will seek landfall with a new adventure. In spring he was chatting about a deal in the medicinal pot sector, but that apparently went up in smoke.

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