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Diamond & Specialty Minerals Summary for Feb. 9, 2017

2017-02-09 21:18 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a mediocre 70-67-122. The TSX Venture Exchange rose fractionally to 825 while polished diamond prices were flat. Matt Manson's Stornoway Diamond Corp. (SWY) slipped another cent to 84 cents on 3.55 million shares. The company is fighting a weak rough diamond market as it irons the kinks from its Renard mine in Quebec.

Terry Tucker's Tango Mining Ltd. (TGV), down 1.5 cents to six cents on 11.5 million shares, recovered a small but promotable parcel of diamonds while commissioning its equipment at the Oena alluvial diamond project in South Africa. The company recovered 62.17 carats worth an average of $3,780 (U.S.) per carat, mainly thanks to a 36.34-carat gem. (Investors, who always love a large diamond, sent Tango's shares up four cents Wednesday to 7.5 cents on 11.81 million shares.) The latest haul brings Tango's Oena diamond parcel to 254.2 carats worth $1,881 (U.S.) per carat. Those numbers reveal that the first 192 carats were worth just $1,411 (U.S.) per carat, suggesting that much of the value in the latest parcel came from the 36-carat rock.

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MGX minerals, no contamination from lithium drilling muds?

Posted by hmm at 2017-02-09 22:55

wouldn't that add to the recoveries ? no reason not to recover that as well is there?

Posted by zippy at 2017-02-10 08:39

appears only in the hole then, not over the 1000's of miles being touted. exxon pumped oil from 1930 to 1995 and pulled 1.5 billion barrels, 1000 barrels a day average? but xmg will drill 10x more holes to pump the 1 million barrels aday. xmg bigger drillling funds than exxon

Posted by iq at 2017-02-10 10:17

just like BREX did ;)

Posted by to zippy at 2017-02-10 10:19


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