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Diamond & Specialty Minerals Summary for Nov. 25, 2016

2016-11-25 20:47 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for a slow Friday was a positive 65-54-147. The TSX Venture Exchange gained two point to 734 while polished diamond prices rose 0.4 per cent. Dominion Diamond Corp. (DDC), just $10.46 in mid-September, continued its rally, gaining 19 cents to $12.44 on 211,000 shares. The company is expecting improved production and sales next year at both Ekati and Diavik. Darryl Jones's Voltaic Minerals Corp. (VLT) gained two cents to 8.5 cents on 2.69 million shares. The company is promoting a lithium prospect in Utah.

Dr. Mark Bristow and Tjaart Willemse's Rockwell Diamonds Inc. (RDI), unchanged at 6.5 cents on 142,000 shares, has completed a review of its alluvial diamond mining operations and business plan. Mr. Willemse, who abruptly replaced James Campbell as president and chief executive officer in September, calls it a "business repositioning plan." (He means that metaphorically, although his predecessor did try repositioning the company's head office from its comfortable surroundings in Johannesburg to one of its mining sites along the Middle Orange River. That apparently did little to staunch the company's haemorrhage of red ink, resulting in Mr. Willemse declaring Rockwell to be in a "state of despair" last month.)

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