Diamonds & Specialty Minerals Summary for Oct. 30, 2014
2014-10-30 19:24 ET - Market Summary
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by Will Purcell
The diamond and specialty minerals stocks box score for Thursday was a miserable 29-84-158. The TSX Venture Exchange fell nine points to 771 while polished diamond prices inched upward. Iamgold Corp. (IMG), which slumped 31 cents to $2.19 on 4.68 million shares, is far below its 2011 high of $23.79. (Today's intraday low of $2.07 is its all-time low.) The company will release its third-quarter results on Nov. 12 and investors seem girded for bad news, financial or political. Iamgold is mainly about gold -- and will be more so once it closes its $530-million sale of the Niobec niobium mine late this year. Iamgold also holds a royalty on the Diavik diamond mine. Robert Gannicott's Dominion Diamond Corp. (DDC) lost 24 cents to $15.49 on 213,000 shares. Dominion, which owns a 40-per-cent interest in Diavik and 90 per cent of Ekati, has produced good results from both mines this year. The company will release its third quarter results in early December. Investors are also expecting the company's mine plan for Jay, a 90-million-carat diamond deposit that could keep Ekati running through the 2030s.
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If Stockwatch should know that the decision has been made to work with Panasonic and the Gigafactory will be in Nevada. That means lots of ral cars coming to Nevada with raw materials. Lithium will come from Nevada or Quebec, Soda Ash to purify lithium is coming from Wyoming and the purified graphite is likely coming from Timcal which just opened their mine again WHICH IS LOCATED ------ IN QUEBEC --------. Timcal has only one year of open pit mine life left. They may then be open to buying other deposits near their $ 100 million mill which is unlikely to move elsewhere. That means that Quebec graphite plays are more substantive than "Howe Street Fluff". That graphite has to be refined to 99.999% purity. A tall order which not many will be able to do. No one is building a $ 100 million mill in the world anywhere unless they have rocks in their head. It is the ONLY ONE IN NORTH AMERICA. Costs of shipping by rail are fairly cheap. Ergo, the dream of Quebec plays, while still not a sure thing, is at least not based on the same Howe Street cannabis-induced hallucinations of some companies with deposits located at the ends of the Earth. By the way, what the heck is wrong with supporting Canadian graphite plays over others? This could bring in considerable wealth to Canada, like diamond mines have done the last 20 years. Stockwatch is big on promoting that industry. Something to think about at least. Conduct your own DD.
Posted by Elongated Musketeer at 2014-10-31 12:35
Stockwatch does not promote anything. They are reporting. It appears that Elongated Musketeer is promoting but does not know it because he has drunk his own kool aid. Stick to the bullboards to promote your interests, come to Stockwatch to get information, do your research and make your own decisions.
Posted by No Hype at 2014-10-31 15:40
Let's talk about facts vs. fluff and you can judge who is spouting what:
Timcal the only operating graphite mine in N.A. - fact - google it
Quebec is the location of many flake graphite properties like LMR/CJC, FMS, LLG, etc.
Tesla is building in Nevada - well known fact - google it.
Nearest lithium mine is in Nevada - fact Chemtell(?)
Soda Ash primarily mine in Wyoming - fact
Ultra pure graphite is anything over 99.999% - fact
Shipping by rail to a central location like Nevada is cheap and quick - logical conjecture. Maybe costs go up but do you really think they will ship from Sweden to Nevada, Alaska to Nevada or Madagascar to Nevada before looking at Quebec?
No one is going to build another graphite mine in North America soon, graphite prices have collapsed to $ 884/ton. It would be suicide. Again, conjecture as there is the Kearney Mine which is private but its stuck in limbo right now and crazy things happen with crazy people's money.
Stockwatch puts diamond miners on a pedestal and talks derisively about the graphite industry - this may be conjecture but there is a lot of negative vibe to the comments. Graphite will the ten times bigger than diamonds for Canada if we stop killing the industry. Put 1/10 of the money into graphite and graphene research that goes into the oil sands and the return with be 100 fold. Conjecture, conjecture, conjecture.
The real fact is that reporters are people. They write everyday the same old diamond and gold stuff, drink their coffee and then go home. However, just like promoters they have a bias. Chuck Fipke didn't care how crazy everyone thought he was in 1990. It was when they found out he was right things changed. But he was aware of facts no one else knew because he followed the evidence. They are not just reporting facts they are providing opinions in the tone of their words.
I don't have to repeat myself three times to say that there is huge risk in any junior resource play but to put all of the graphite explorers in one bag isn't right either.
As I said above - Do your own diligence but I simply don't agree that the Quebec angle is fantasy. Fantasy is someone in Africa sending graphite to Nevada. Quebec is a different circumstance. But you pay for Stockwatch to give you the facts - but have they really weighed them appropriately? Have they done that?
Again - do your own research. Will is a great writer but he doesn't know everything either.
Posted by Elongated Musketeer at 2014-10-31 18:03
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