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Diamond & Specialty Minerals Summary for Nov. 16, 2017

2017-11-16 21:22 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a positive 79-66-124. The TSX Venture Exchange rose fractionally to 792 while polished diamond prices edged upward. Ken MacNeill and George Read's sputtering Saskatchewan diamond promotion, Shore Gold Inc. (SGF), closed unchanged at 17.5 cents on 422,000 shares. The stock is near its 52-week low despite -- or perhaps because of -- its deal granting Rio Tinto PLC an option to earn a 60-per-cent interest in its Star-Orion South project.

Dermot Desmond and Dr. Rory Moore's Kennady Diamonds Inc. (KDI) lost nine cents to $2.70 on 7,000 shares. Kennady's stock, launched at 50 cents in mid-2012 as a spinoff from Mountain Province Diamonds Inc. (MPVD: $3.58), got as high as $8.74 late in 2013. Kennady and its sibling have been lagging this year on disappointing diamond prices achieved at Mountain Province's Gahcho Kue mine. Nevertheless, Kennady is planning another busy year at Kennady North, 10 kilometres northeast of Gahcho Kue, in the hope of adding more carats and finding new kimberlite pipes.

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