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Diamonds Summary
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Diamond & Specialty Minerals Summary for March 16, 2017

2017-03-16 21:04 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a bright 83-57-115. The TSX Venture Exchange gained three points to 810 while polished diamond prices edged lower. Ken MacNeill and George Read's Shore Gold Inc. (SGF) traded actively, but not in a good way. It shed one-half cent to 17.5 cents on two million shares. There has been no news to account for the 3.5 million shares that have traded in the past two days. Shore briefly touched the 20-cent mark late last week on another two-million-share day.

Peter Dasler's Canalaska Uranium Ltd. (CVV) closed unchanged at 44.5 cents on 71,000 shares. Mr. Dasler, president and chief executive officer, says that going forward, Canalaska expects to focus on the West MacArthur uranium prospect and the West Athabasca kimberlite project in northwestern Saskatchewan. By "going forward" Mr. Dasler must be referring to the calendar, as the company's kimberlite hunt has been going nowhere since fall, when its former co-venturer, De Beers Canada, quit the project in what was a major reverse. Canalaska's stock surged to $1.55 from 45 cents in spring after De Beers agreed to spend up to $20.4-million in the project over a seven-year period. It returned to its customary perch in September, after De Beers's first drill program came up empty and was aborted early. De Beers said it was walking away just before Christmas, snuffing out the slight semblance of a rally.

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