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Diamond & Specialty Minerals Summary for June 14, 2016

2016-06-14 21:18 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 50-83-133. The TSX Venture Exchange lost eight points to 707 while polished diamond prices inched lower. Brendan Bell's Dominion Diamond Corp. (DDC) fell 52 cents to $12.57 on 458,000 shares after an RBC Capital Markets analyst, Des Kilalea, cut his target price to $11 (U.S.) from $13 (U.S.) based on worries the company will have a difficult time achieving a worthwhile rate of return with its big Jay project.

Ken MacNeill and George Read's Shore Gold Inc. (SGF) closed unchanged at 18 cents on 36,000 shares. On Monday, Shore held its annual general meeting, usually a tedious affair at which the closest thing to excitement is another slide show by Mr. MacNeill, president and chief executive officer, and Mr. Read, senior vice-president. This year's event featured a revolt by a group of the company's long-suffering retail shareholders who call themselves the Shore Gold Shareholders Association (SGFSA).

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