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Diamond & Specialty Minerals Summary for Nov. 25, 2015

2015-11-25 21:05 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a discouraging 35-46-158. The TSX Venture Exchange rose fractionally to 519 while polished diamond prices gained 0.2 per cent. Although diamond stocks have been slumping since late spring, one, Matt Manson's Stornoway Diamond Corp. (SWY), remains within hailing distance of its June high of 86 cents. Stornoway, which hopes to have its $811-million mine in production by the spring of 2017, gained one cent to 68 cents on 326,000 shares today. Jay Chmelauskas and Tom Hodgson's Western Lithium USA Corp. (WLC) lost one cent to 31 cents on 922,000 shares. The stock is a long way from its spring high of 97 cents despite its merger with Lithium Americas Corp. this fall.

Robert Gannicott and Brendan Bell's Dominion Diamond Corp. (DDC), down 21 cents to $10.96 on 551,000 shares, will discuss its third quarter results with analysts and investors on Dec. 10. There could be some tougher questions than usual. Mr. Bell, interim chief executive officer since Mr. Gannicott took a medical leave of absence late last year, and its official CEO since Mr. Gannicott returned as chairman in July, says the company's revenues were "resilient" during the quarter ended Oct. 31.

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