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Diamonds Summary
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Diamond & Specialty Minerals Summary for April 19, 2017

2017-04-19 20:47 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a poor 49-79-129. The TSX Venture Exchange slipped five points to 815 while polished diamond prices regained 0.25 per cent. Paul Ogilvie's Saint Jean Carbon Inc. (SJL) gained one-half cent to six cents on 996,000 shares. The company's insiders, including Mr. Ogilvie, are under order not to trade in their company's stock until the Alberta Securities Commission wraps up its investigation as to whether any of them broke Alberta's securities laws. Pierre Lortie and Dirk Naumann's Quest Rare Minerals Ltd. (QRM) lost one cent to 13 cents on 842,000 shares. Quest has been quiet about its Strange Lake rare earth project in Quebec for the past month.

Dr. Stewart Blusson's Archon Minerals Ltd. (ACS), up 15 cents to $1.60 on 5,000 shares Tuesday, is cheering the start of commercial production at Lynx, on the Buffer claims at Ekati in the Northwest Territories. Lynx, the first Buffer kimberlite to reach production, will provide Archon with its first cash flow since Dr. Blusson created the company in the early 1990s. Dr. Blusson offered the usual platitudes that might be expected for a majority partner that achieved this milestone -- Dominion Diamond Corp. (DDC: $16.56) -- but he is probably still annoyed with a few of Dominion's other actions over the past two years.

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