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Diamond & Specialty Minerals Summary for April 6, 2018

2018-04-06 20:56 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was an 88-88-118 draw. The TSX Venture Exchange fell one point to 769 while polished diamond prices were flat. Ken MacNeill and George Read's Star Diamond Corp. (DIAM), which briefly nosed as high as 21 cents yesterday, closed unchanged at 19 cents on 10,000 shares today. No lasting rally is likely until Rio Tinto PLC, the company's partner at Star-Orion South, starts its big 10-hole bulk sampling program, which supposedly will get under way this year. (Shareholders are hoping it will happen soon.)

Chris Taylor, and Chuck Fipke's Dunnedin Ventures Inc. (DVI) lost one-half cent to 30.5 cents on 260,000 shares. The company is seeking $1.5-million in additional cash to cover the cost of expanding its 2018 exploration program at the Kahuna diamond project, northeast of Rankin Inlet in southern Nunavut. Just a few days ago, the company said it was set to start drilling on up to 17 targets. Most of those targets were thought to be potential kimberlite pipes, rather than the dikes that have already been discovered on the property. The rest are believed to be possible blows, or enlargements, along the dike systems.

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