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Diamond & Specialty Minerals Summary for Oct. 13, 2015

2015-10-13 21:14 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 35-52-151. The TSX Venture Exchange gained one point to 553 while polished diamond prices edged lower. Eric Friedland's Peregrine Diamonds Ltd. (PGD) closed unchanged at 17 cents on 223,000 shares. The company is waiting for results of a mini-bulk sample of CH-7, one of two key Chidliak pipes on Baffin Island. Meanwhile, microdiamond counts from the first of several small tests completed this year are expected shortly. Robert Mintak's Pure Energy Minerals Ltd. (PE) gained 12 cents to 76 cents on 2.80 million shares. The company wants to drill its Clayton Valley South lithium project in Nevada. It is currently applying for permits.

Terry Tucker's Tango Mining Ltd. (TGV), unchanged at one cent on 946,000 shares, says a project operational assessment of its Oena alluvial diamond project on the Orange River of South Africa has resulted in a "positive recommendation for the restart of the bulk sampling program." The sampling had apparently been halted in mid-September when Kevin Gallagher, a Tango director, took operational control of Oena. Mr. Tucker said early this month that the bulk sampling had been "immediately suspended" to allow the operational assessment to take place, although all he said at the time was that Mr. Gallagher would "manage and oversee the bulk sampling program."

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