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Diamond & Specialty Minerals Summary for Sept. 19, 2017

2017-09-19 21:10 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a ho-hum 52-60-152. The TSX Venture Exchange rose fractionally to 777 while polished diamond prices edged higher. Dr. Leon Daniels's Pangolin Diamonds Corp. (PAN) lost one-half cent to six cents on 68,000 shares. At last report, in spring, Pangolin was systematically exploring its diamond projects in Botswana. "Systematic" is a Howe Street synonym for "painfully slowly."

Dermot Desmond and David Whittle's Mountain Province Diamonds Inc. (MPVD), down one cent to $4.04 on 43,000 shares, sold $27.1-million of diamonds at its latest sale of production from the Gahcho Kue mine, 250 kilometres northeast of Yellowknife in the Northwest Territories. The sale, the seventh on the company's five-week cycle, took place earlier this month. Mountain Province sold all the diamonds it offered, some 463,000 carats, achieving an average price of just $59 (U.S.) per carat.

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