Diamond & Specialty Minerals Summary for March 17, 2017
2017-03-17 21:14 ET - Market Summary
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by Will Purcell
The diamond and specialty minerals stocks box score for Friday was a bright 72-55-128. The TSX Venture Exchange fell fractionally to 810 while polished diamond prices were flat. Dominion Diamond Corp. (DDC) jumped $1.44 to $13.21 on 1.62 million shares on word it is expecting a banner year at its Diavik and Ekati mines, near Lac de Gras in the Northwest Territories. The company is expecting a hefty 62-per-cent jump in its diamond sales this year over last, thanks in large part to the resurrection of the old Misery pit and increasing production from the new Pigeon and Lynx pits, both development legacies of the late Robert Gannicott.
Dr. Leon Daniels and Gareth Penney's Pangolin Diamonds Corp. (PAN), down one-half cent to five cents on 726,000 shares, has recovered three more diamonds from soil samples collected at the Malatswae diamond project in Botswana. One of the gems, which measured at least two millimetres in all three dimensions, was clear and white in colour. (An octahedral gem with those rough dimensions could weigh close to 0.1 carat.) The new finds bring the Malatswae diamond count to 16 stones, spread across six discrete regions on the project.
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Payday is on its way.......
2.2M shares short, a takeover offer from an outside player in the diamond market,
Argyle about to shut down, RTZ stating commitment to the diamond industry.
Superfluous investments (offices) re-jigged
Unprecedented disclosure of guidance.
Jay significantly more valuable if processed through diavik infrastructure.
A bidding war is about to erupt, according to BORSON
Ashton redux +
Washinton's offer is a middleman we don't need in the evolution of this project.
Posted by Borson at 2017-03-19 18:53
Interesting times ahead, it seems.
Strange stuff in that the revelation of a TO triggered someone to HAVE to sell a 10% position immediately upon that offer being made to the bod. Inexplicable drop? Always an interesting explanation. At least this time it wasn't a fire! Somehow, i see dissident hands cleaning up the ship.......
Posted by Borson at 2017-03-20 10:40
i Remember Al Tadich, in the rampaging bull, using the pejorative. "You don't knowwhat you don't know". Up is funner than down.
Posted by Borson at 2017-03-20 11:53