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Diamond & Specialty Minerals Summary for Dec. 1, 2016

2016-12-01 21:35 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a mediocre 60-71-135. The TSX Venture Exchange gained two points to 739 while polished diamond prices edged upward. Ken MacNeill and George Read's Shore Gold Inc. (SGF) lost one-half cent to 18.5 cents on 58,000 shares. The company's crew has been strutting its stuff at the Mines and Money dog and pony show in London this week, but the promotional road show is doing nothing for the company's stock. While promoters like to reveal news during the big shows, Shore has had none for months, or years, as some might argue.

Lukas Lundin and Dr. William Lamb's Lucara Diamond Corp. (LUC), up eight cents to $3.34 on 693,000 shares, expects the revenue from the prolific Karowe diamond mine in Botswana will range from $200-million (U.S.) to $220-million (U.S.), matching the guidance it issued a year ago for 2016. As it turned out, 2016 was a banner year, with $230-million (U.S.) in revenue through the first three quarters and perhaps enough in the final quarter to reach the $300-million (U.S.) mark.

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