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Diamonds & Specialty Minerals Summary for Feb. 18, 2015

2015-02-18 21:07 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a 54-54-144 draw. The TSX Venture Exchange rose fractionally to 698 while polished diamond prices fell 0.1 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) gained another two cents to 71 cents on 1.62 million shares. The stock, just 46 cents in mid-December, has been gaining ground steadily since then as its big Renard mine in Northern Quebec slowly takes form. Stornoway sold $325-million of stock at 70 cents last spring as part of its $945-million mine financing. Today was the first time the stock popped above that mark since summer. Andre Gauthier's Matamec Explorations Inc. (MAT) gained 1.5 cents to 6.5 cents on 1.70 million shares. Matamec has been silent since it signed a joint venture deal with an arm of the Quebec government for the Kipawa rare earth project in the Temiscamingue region of Quebec. Matamec had a partner, Toyotsu Rare Earth Inc., but it quit the project last year, converting its 49-per-cent interest into a 10-per-cent royalty.

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The only person to call Hodge "Howe Street's Great Exaggerator" is Will Purcell. I guess Will likes to hide behind the fact he is a reporter to defame people.

Posted by The Truth at 2015-02-19 12:29


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