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Diamond & Specialty Minerals Summary for Jan. 27, 2016

2016-01-27 17:46 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a weak 36-46-153. The TSX Venture Exchange rose fractionally to 489 while polished diamond prices fell 0.4 per cent. Patrick Evans's Mountain Province Diamonds Inc. (MPV) gained 15 cents to $4.15 on 43,000 shares. The company and De Beers Canada are quietly building their billion-dollar diamond mine at Gahcho Kue in the Northwest Territories. The work was on schedule and within budget at last report.

Jim Greig's Crystal Exploration Inc. (CEI), unchanged at 13 cents on 25,000 shares, has sent some dusty kimberlite core boxes to a Saskatoon laboratory for diamond recoveries. The kimberlite core, about 12 tonnes of it, had been drilled a decade ago from the Muskox pipe in western Nunavut, 150 kilometres northwest of Lac de Gras. Crystal is calling its plan to recover diamonds from the rock a "mini-bulk sample" -- and it is -- although the current test began in 2006 under the direction of Tahera Diamond Corp., which had optioned the project from De Beers two years earlier.

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