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Diamond & Specialty Minerals Summary for April 27, 2016

2016-04-27 21:18 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a mediocre 56-61-142. The TSX Venture Exchange rose fractionally to 657 while polished diamond prices rose 0.3 per cent. Dr. Leon Daniels's Pangolin Diamonds Corp. (PAN) closed unchanged at seven cents on 550,000 shares. Interest in the company's Malatswae prospect in Botswana continues to slowly build, thanks to several diamonds found in soil samples.

James Campbell's Rockwell Diamonds Inc. (RDI), down one cent to 11 cents on 122,000 shares, produced 4,714 carats of diamonds from 789,000 cubic metres of gravel mined from the Middle Orange River in South Africa during the fourth quarter of its fiscal year, which ended Feb. 29. This was well below the 7,063 carats from 1.32 million cubic metres that it managed a year ago, but it was a bit better than the 3,990 carats that it recovered from 797,000 cubic metres during the previous quarter. Mr. Campbell, president, chief executive officer and apparently an incurable optimist, nevertheless described the most recent quarter as having "showed positive signs of recovery" compared with the "very difficult operating period" in the previous quarter.

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