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Diamond & Specialty Minerals Summary for Feb. 12, 2016

2016-02-12 20:43 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a pleasant 41-30-164. The TSX Venture Exchange gained two points to 511 while polished diamond prices edged lower. George Putnam's Scandium International Mining Corp. (SCY) gained one-half cent to 11.5 cents on 517,000 shares. There has been no news since last year but the company continues to plod along with its Nyngan scandium project in Australia.

Eric Friedland and Tom Peregoodoff's Peregrine Diamonds Ltd. (PGD) gained 1.5 cents to 11 cents on 179,000 shares. The stock hit a high of $4.65 in the fall of 2009 when stock guru John Kaiser was touting the company's Chidliak play as perhaps the next Ekati. Mr. Kaiser is still a believer six years on, but investors have drifted off to new promotions despite Peregrine having delivered on much of Chidliak's early promise. Its CH-6 pipe has an inferred resource of 3.32 million tonnes at 2.58 carats per tonne, with another 3.2 to 4.38 million tonnes deemed a target for further exploration. At CH-7, Peregrine had between 3.72 and 6.01 million tonnes at roughly one carat per tonne deemed a target for further exploration.

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