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Diamond & Specialty Minerals Summary for July 15, 2016

2016-07-15 19:21 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a weak 57-66-140. The TSX Venture Exchange gained one point to 766 while polished diamond prices inched downward. Eric Friedland and Tom Peregoodoff's Peregrine Diamonds Ltd. (PGD) lost 1.5 cents to 23 cents on 1.35 million shares. The stock topped 31 cents last week on word of a Chidliak dream sheet, but it began falling early this week after investors interpreted a conference call technical glitch as Peregrine's unwillingness to field questions.

Chris Taylor's Dunnedin Ventures Inc. (DVI), up four cents to 13 cents on 894,000 shares, has appointed two new directors, Claudia Tornquist and Chad Ulansky, to its board. To make room for them, Dunnedin quietly dropped Patrick McAndless and Dr. Gilles Arsenault. (Mr. Taylor, chief executive officer, describes their departure in more soothing terms, saying Dunnedin has "moved" them to its technical advisory board. He may have forgotten that Dunnedin had already appointed Mr. McAndless to the role in early 2015.)

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