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Diamonds Summary
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Diamond & Specialty Minerals Summary for April 18, 2017

2017-04-18 21:24 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a bleak 40-83-134. The TSX Venture Exchange slipped four points to 825 while polished diamond prices fell 0.4 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) dipped two cents to 81 cents on 1.10 million shares. The company is expected to reveal within the next month how diamond sales from its Renard mine in Quebec are going.

Dr. Mark Bristow and Tjaart Willemse's Rockwell Diamonds Inc. (RDI), halted at six cents in late March after it was hit with an interim liquidation order, has applied for "business rescue" in South Africa. Mr. Willemse, the company's chief executive officer since last September, says that the move "does not have a directly analogous structure in Canadian restructuring practice," noting that through the process, any liquidation order is automatically stayed. He says that, if Rockwell is successful in its application, a business rescue practitioner would be appointed to help him and his crew restructure the company.

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