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Diamond & Specialty Minerals Summary for Nov. 12, 2015

2015-11-12 20:02 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a weak 34-55-149. The TSX Venture Exchange fell five points to 522 while polished diamond prices inched upward. Robert Gannicott and Brendan Bell's Dominion Diamond Corp. (DDC), reached yet another two-year intraday low today, dipping to $11.88 before closing down 12 cents to $12.01 on 510,000 shares. There is still no news, but as rough diamond prices drop and demand dries up, investors are probably worried the company's annual dividend of 40 (U.S.) cents is not as sustainable as touted. Guy Bourassa's Nemaska Lithium Inc. (NMX) gained four cents to 39 cents on 1.15 million shares. The company is inching ahead with its plan for a lithium mine at Whabouchi in central Quebec and a processing facility in Shawinigan.

Chris Taylor's Dunnedin Ventures Inc. (DVI) jumped 2.5 cents to 6.5 cents on 5.52 million shares on promotable diamond counts from a batch of kimberlite collected this summer from its PST dike on the Kahuna diamond property, northeast of Rankin Inlet in Nunavut. The 820-kilogram sample of kimberlite produced 96 diamonds larger than a 0.85-millimetre cut-off. Those stones weighed 5.34 carats, implying a sample grade of a whopping 6.50 carats per tonne.

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