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Diamond & Specialty Minerals Summary for Aug. 26, 2016

2016-08-26 20:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a positive 73-65-130. The TSX Venture Exchange gained three points to 805 while polished diamond prices inched higher. Glenn Kelly's Orbite Technologies Inc. (ORT) fell one-half cent to 40.5 cents on 745,000 shares. The company says it is (finally) on schedule to commence production of high-purity alumina at its new plant on Gaspe peninsula before the end of September.

Chuck Fipke and Chad Ulansky's Metalex Ventures Ltd. (MTX), up one-half cent to eight cents on 66,000 shares, says that "preliminary discussions with interested parties are under way" regarding the financing of a big bulk sample planned for the U2 kimberlite pipe at Kyle Lake in Northern Ontario. Unfortunately, the comment is fast becoming boilerplate in the company's quarterly reports: It has appeared religiously since Dundee Corp. (DC.A: $6.00) backed out of an option deal two years ago. (At this point, the only interested parties could well be Metalex's weary retail shareholders.)

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