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Diamonds & Specialty Minerals Summary for Aug. 1, 2014

2014-08-01 19:10 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a pleasant 60-46-155. The TSX Venture Exchange fell fractionally to 1,000 while diamond prices were flat. Dean Taylor's Diamcor Mining Inc. (DMI) fell three cents to $1.10 on 13,000 shares. Diamcor, one of the few diamond companies to come through the recession with a higher stock price, is continuing its bulk sampling of Krone Endora, the alluvial diamond deposit it bought from De Beers in 2009. The testing will go on indefinitely at increasing rates, as it is generating a profit. Jay Chmelauskas's Western Lithium USA Corp. (WLC) jumped eight cents to 70 cents on 2.35 million shares. The company is pressing ahead with its Kings Valley clay project but shareholders are far more enthused with Mr. Chmelauskas's promotion of Kings Valley for its lithium potential, now that a site in Nevada is being readied for possible construction of Tesla's lithium-ion battery factory.

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