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Diamond & Specialty Minerals Summary for Nov. 3, 2017

2017-11-03 21:22 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a positive 78-74-109. The TSX Venture Exchange lost one point to 791 while polished diamond prices were flat. David Sidoo's Advantage Lithium Corp. (AAL) fell five cents to $1.05 on 4.62 million shares. Since mid-October, when a share cost just 58 cents, the stock has been trading busily thanks to good news from its Cauchari lithium brine project in Argentina.

Lukas Lundin and Dr. William Lamb's Lucara Diamond Corp. (LUC), up three cents to $2.32 on 878,000 shares, hopes to extend the life of its Karowe mine in Botswana. A new preliminary economic assessment based on underground mining of the lucrative South lobe at 7,500 tonnes per day shows a discounted net present value of $451-million (U.S.) after taxes. Dr. Lamb, president and chief executive officer, says that the results "demonstrate the potential economic viability" of the plan. He is further enthused since open-pit mining in the upper portion of the South lobe has produced "an ongoing improvement in the value of diamonds" at depth and the lobe remains open at depth.

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