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Diamond & Specialty Minerals Summary for Jan. 30, 2017

2017-01-30 20:23 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was an active 70-77-114. The TSX Venture Exchange lost seven points to 802 while polished diamond prices inched downward. Patrick Evans's Mountain Province Diamonds Inc. (MPV) slid another 25 cents to $5.42 on 532,000 shares following the company's disappointing first sale of diamonds from its Gahcho Kue mine in the Northwest Territories. Kennady Diamonds Inc. (KDI), a sister company with a nearby deposit, had been hoping for good news from Gahcho Kue. Kennady slipped seven cents to $3.48 on 22,000 shares.

Ken MacNeill and George Read's Shore Gold Inc. (SGF), unchanged at 18 cents on 560,000 shares, has been told by the Saskatchewan government that more talking with the locals is needed. Shore Gold's mammoth Star-Orion South diamond project, in the Fort a la Corne region east of Prince Albert, has been mired in environmental red tape since the late 2000s. After what seemed an interminable wait, Canada's federal government acknowledged in 2014 that the project was "not likely to cause adverse environmental affects" given sufficient mitigation measures.

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