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Diamond & Specialty Minerals Summary for Jan. 19 2018

2018-01-19 21:26 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a positive 94-83-114. The TSX Venture Exchange gained three points to 880 while polished diamond prices were flat. Paul Farquharson's eCobalt Solutions Inc. (ECS) fell 17 cents to $1.61 on 2.91 million shares. The company said earlier this week that it is making progress in identifying strategic offtake partners for its cobalt concentrate that will come from its Idaho Cobalt project.

Matt Manson's Quebec diamond miner, Stornoway Diamond Corp. (SWY), rose two cents to 64 cents on 608,000 shares. The company is planning its first big exploration push at its Renard mine in several years, with a budget of $3.6-million to be spent on the project, most of it on drilling. Mr. Manson, president and chief executive officer, says that Stornoway is "turning with a renewed focus" to exploration in the hope of expanding the existing resource and making brownfield discoveries. (Its exploration focus got blurry several years ago, when Mr. Manson needed all his effort to first finance, and then build, the $800-million Renard mine that reached production in 2016.)

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