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Diamond & Specialty Minerals Summary for March 21, 2017

2017-03-21 20:04 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 56-96-104. The TSX Venture Exchange fell seven points to 804 while polished diamond prices fell 0.5 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) jumped another four cents to 98 cents on 3.71 million shares, riding the wave of enthusiasm for diamond stocks triggered late last week when the private Washington Companies was considering an offer of about $18 per share for Dominion Diamond Corp. (DDC: $16.56). Dominion is not pleased, but its rivals like the attention.

Dr. Rory Moore and Dermot Desmond's Kennady Diamonds Inc. (KDI), up six cents to $3.93 on 126,000 shares, has formed a special committee of independent directors to "consider and evaluate various strategic alternatives to maximize shareholder value." The move comes, Dr. Moore says, as a "response to discussions with certain interested parties regarding a potential strategic transaction." He adds that no formal offers have been received, nor have any agreements been reached with any third party. Dr. Moore, having whetted his shareholders' appetites, then clams up. He says Kennady Diamonds does not intend to make any further comment regarding the process, except as required by the regulators; in other words, when there actually is something to say.

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Duh Mr. Purcell have you been living under a rock these last two weeks? Nice drop kick to Canada Carbon's reputation hanging them out on Saint Jean Carbon's mess. Can you be anymore nasty?

Posted by ResearchinMotion at 2017-03-21 20:52


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