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Diamond & Specialty Minerals Summary for Aug. 22, 2016

2016-08-22 21:17 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a discouraging 45-90-129. The TSX Venture Exchange lost 12 points to 820 while polished diamond prices fell 0.5 per cent. Terry Tucker's Tango Mining Ltd. (TGV) gained one-half cent to 11 cents on 12.18 million shares. The volume follows Friday's 4.5-cent surge on 4.6 million shares. The company has a deal to acquire the BK-11 diamond mine in Botswana.

Dr. Rory Moore's Kennady Diamonds Inc. (KDI), unchanged at $4.06 on 8,000 shares, has acquired another property in the Gahcho Kue region of the Northwest Territories from Ray Hrkac's GGL Resources Corp. (GGL: $0.035). GGL sold Kennady 4,233 hectares of ground immediately south of the Gahcho Kue mine. This is ground that Mr. Hrkac had been hanging onto despite his company's previous fire sales. The ground was once part of GGL's Doyle Lake project that it acquired in the mid-1990s, much of it staked under the nose of Kennady's parent company, Mountain Province Diamonds Inc. (MPV: $6.39).

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