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Diamond & Specialty Minerals Summary for April 20, 2018

2018-04-20 23:22 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a positive 75-69-150. The TSX Venture Exchange rose two points to 804 while polished diamond prices rose 0.1 per cent. Ken MacNeill and George Read's Star Diamond Corp. (DIAM) traded actively again today, gaining one-half cent to 21 cents on 799,000 shares. Over 1.1 million shares traded yesterday. The four-month hold period associated with the company's placement of 7.9 million shares at 19 cents in mid-December is expiring.

Dermot Desmond and David Whittle's Mountain Province Diamonds Inc. (MPVD), up 16 cents to $3.16 on 2.72 million shares, has wrapped up its third rough diamond sale of 2018. The company sold 451,000 carats for $26.4-million (U.S.), about $58.50 (U.S.) per carat. That was discouraging at first glance, but Mr. Whittle, interim president and chief executive officer, and Reid Mackie, vice-president of diamond marketing, were quick to remind investors that this was expected -- and pointed out to the market a month ago.

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