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Diamonds & Specialty Minerals Summary for Dec. 18, 2014

2014-12-18 19:54 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a 57-57-152 saw-off as the TSX Venture Exchange gained six points to 665. Polished diamond prices rebounded 0.2 per cent today. Matt Manson's Stornoway Diamond Corp. (SWY) gained 5.5 cents to 52 cents on 1.68 million shares. Stornoway, which traded at $1.29 in March and financed the equity portion of its $850-million Quebec-based Renard mine at 70 cents in April, is one of many juniors struggling through tax-loss season. The company is on time and on budget at Renard, which should be in production by 2017. Aubrey Eveleigh's Zenyatta Ventures Ltd. (ZEN) lost five cents to $1.35 on 140,000 shares. Zenyatta could be experiencing tax-loss selling as well, as its stock reached $5 in mid-2013 and traded above $3 for most of this past spring. Its real problem is that Mr. Eveleigh has been unable to produce -- or promote -- a much anticipated dream sheet for the Albany graphite project in Northern Ontario.

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