This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 102-73-135 as the TSX Venture Exchange fell three points to 628. Rough diamond prices scored a modest rebound this week, according to Paul Zimnisky's global rough diamond price index, although one must squint to make it out against the backdrop of recent declines.

Mr. Zimnisky has prices up by 0.2 per cent but just 0.1 per cent above where he had set them a week ago. (He always adjusts his chart for late-to-arrive data, and last week's tardy information was slightly gloomier than the rest.) And so, rough prices are currently 18.4 per cent below their all-time high of early 2022, a drop that includes a 10-per-cent decline in just the past four months.

The good news is that the chart has flattened into what one sees on an eastward drive out of the mountains of British Columbia onto the plains of Alberta. The bad news within that analogy is that the terrain continues to sink lower along the eastward trek, and if that stays so, as it did in the years after the Great Recession's rebound crested in 2011, dark days could lie ahead for diamond miners.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS