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Diamond & Specialty Minerals Summary for June 8, 2016

2016-06-08 21:16 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a rousing 92-61-113. The TSX Venture Exchange gained 10 points to 711 while polished diamond prices were flat. Ken MacNeill and George Read's Shore Gold Inc. (SGF) lost one-half cent to 18.5 cents on 289,000 shares. The company is getting set for its annual meeting in Saskatoon early next week. This year's event promises to be interesting: The company's shareholders are upset with Shore Gold's lack of progress and its limited communications over the past several years.

Patrick Power's Arctic Star Exploration Corp. (ADD), two cents for most of the past year but as high as 10 cents early this spring, closed unchanged at two cents on 273,000 shares. There was no discernible reason for the short-lived surge, save possibly for a recent drilling program at the company's 55-per-cent-owned Redemption project at Lac de Gras. (That program flamed out once again, as it has every time Arctic Star has drilled targets since the company acquired the project in 2004.) With Mr. Power's Redemption partner, North Arrow Minerals Inc. (NAR: $0.19), licking its wounds and pondering the future of the prospect, Arctic Star will now have to turn to its other prospects to elevate its stock.

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