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Diamond & Specialty Minerals Summary for Apr. 28, 2016

2016-04-28 21:06 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a 60-60-140 draw. The TSX Venture Exchange gained seven points to 665 while polished diamond prices edged lower. Matt Manson's Stornoway Diamond Corp. (SWY) lost two cents to $1.02 on 956,000 shares. The company is in the final stages of building its $800-million Renard diamond mine in the Otish Mountains of Quebec.

James Bruchs's Tsodilo Resources Ltd. (TSD: $0.60) is offering 1.01 million shares at 60 cents. The $600,000 is for working capital according to Mr. Bruchs, the Virginia lawyer who has been chairman and chief executive officer since the company was created from the restructuring of Trans Hex International Ltd. 15 years ago. Mr. Bruchs says that "a director" has agreed to buy nearly 650,000 of the shares. There are seven possibilities, but the most likely candidates are David Cushing, a Maryland-based lawyer who has been a director since 2008, and Mr. Bruchs.

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