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Diamond & Specialty Minerals Summary for Dec. 6, 2016

2016-12-06 20:05 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a poor 57-75-138. The TSX Venture Exchange lost two points to 748 while polished diamond prices jumped 0.8 per cent. Dominion Diamond Corp. (DDC), just $10.46 in mid-September, continued its slow but sure rally today, gaining another 26 cents to $13.33 on 454,000 shares. Dominion is expecting a solid quarter, now that its Ekati plant is back in business.

John Robins and Jim Paterson's Kivalliq Energy Corp. (KIV), up one cent to eight cents on 38,000 shares, is resurrecting a Nunavut diamond project that it briefly touted eight years ago. Just as the diamond sector was imploding during late in 2008, Mr. Robins, chairman -- and chief executive officer at the time -- said that the company had identified several kimberlite targets over the southern part of the Angilak uranium property, southwest of Baker Lake. It seemed a good diversion as the price of uranium had fallen steadily -- and then the bottom fell out in early 2009 on the heels of the Fukushima reactor disaster in Japan. Nevertheless, Mr. Robins quickly forgot about the diamond project.

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