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Diamond & Specialty Minerals Summary for June 9, 2016

2016-06-09 19:51 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a ho-hum 73-79-114. The TSX Venture Exchange gained eight points to 720 while polished diamond prices jumped 0.4 per cent. Dr. Leon Daniels's Pangolin Diamonds Ltd. (PAN) continued its rally today, gaining 1.5 cents to 14.5 cents on 246,000 shares. The company says it has drill targets on its Botswana diamond plays, and the ones at Malatswae are supported by several diamonds found in soil samples.

Quentin Yarie's Honey Badger Exploration Inc. (TUF: $0.035) has wrapped up a helicopter-based magnetic survey and a preliminary surface sampling program at its LG diamond project, northwest of Renard in Northern Quebec. Mr. Yarie, president and chief executive officer, says the survey identified numerous isolated circular anomalies that are located along deep major liniments. (Presumably he means lineaments -- geological formations such as faults -- not a medicated skin lotion.) Either way, he thinks these features could have provided a path for kimberlite eruptions to reach the surface. Honey Badger's sampling crew managed to collect bits or rock lying about but they were unable to grab tests of the bedrock, as the targets are covered by swamps.

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