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Diamond & Specialty Minerals Summary for June 29, 2018

2018-06-29 20:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a positive 85-71-127. The TSX Venture Exchange gained two points to 739 while polished diamond prices rose 0.1 per cent. Chris Anderson's Great Atlantic Resources Corp. (GR) leapt 4.5 cents to 10.5 cents on 493,000 shares. The jump came on the heels of the company's revived promotion of the Mascarene cobalt, copper, nickel and gold project in southwestern New Brunswick, where it is aided by the for-hire InvestmentPitch.com,

Dermot Desmond and Jonathan Comerford's Mountain Province Diamonds Inc. (MPVD), up 14 cents to $3.30 on 87,000 shares, has sold 356,000 carats of diamonds from Gahcho Kue for $30.3-million (U.S.), or $85 (U.S.) per carat. The normalized value, adjusted to account for diamonds delayed or accelerated to market, and to account for the fancies and specials acquired by outbidding De Beers Canada, was $86 (U.S.) per carat. Mr. Comerford, interim president and chief executive officer, described that normalized value as "one of the highest we have achieved to date." (That result was a bit less than the company's July sale last year, which averaged $87 (U.S.) per carat, and it matched its sale in May last year.)

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