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Diamond & Specialty Minerals Summary for Aug. 19, 2016

2016-08-19 21:15 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a middling 64-70-128. The TSX Venture Exchange lost four points to 833 while polished diamond prices rose 0.1 per cent. Terry Tucker's Tango Mining Ltd. (TGV) jumped 4.5 cents to 10.5 cents on 4.55 million shares. The company has approval for its acquisition of the BK-11 mine in Botswana. Now, Mr. Tucker needs to raise the cash needed to complete the deal.

Peter Dasler's Canalaska Uranium Ltd. (CVV), up 15 cents to $1.41 on 361,000 shares, says it and De Beers Canada, its diamond co-venturer in the Athabasca district of northwestern Saskatchewan, are poised to start drilling land-based targets after a quick round of preliminary work. Mr. Dasler, Canalaska's president and chief executive officer, says the drilling will start late this month and carry through into mid-October. The co-venturers plan a second drill program this winter in which they will test targets lying beneath lakes and in currently inaccessible swamps.

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