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Diamond & Specialty Minerals Summary for Jan. 9, 2017

2017-01-09 19:28 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a ho-hum 71-68-123. The TSX Venture Exchange gained two points to 794 while polished diamond prices edged lower. Eric Friedland and Tom Peregoodoff's Peregrine Diamonds Ltd. (PGD) was strong today, gaining 1.5 cents to 24 cents on 701,000 shares. The company is chatting up "various entities" -- groups rumoured to be interested in earning an interest in its Chidliak diamond project on Baffin Island.

Richard Mazur and Mike Koziol's Alto Ventures Ltd. (ATV), down one cent to seven cents on 1,000 shares, has sold 8.6 million flow-through shares and 500,000 regular shares at five cents. Mr. Mazur, chairman and chief executive officer, and Mr. Koziol, president, say that the $455,000 is for drilling kimberlite targets on the Pikoo project in Northern Saskatchewan, exploring the Oxford Lake gold project in Manitoba and upgrading a gold resource at Destiny, in Quebec. (Unless they intend to spend nearly all the cash at Pikoo, investors should not expect much drilling, as the financing fell well short of its $700,000 target and the company had barely $100,000 in working capital at the end of September.)

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