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Diamond & Specialty Minerals Summary for Oct. 19, 2023

2023-10-19 19:31 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a weak 74-93-143 as the TSX Venture Exchange slipped two points to 523. Dermot Desmond and Mark Wall's beleaguered diamond miner, Mountain Province Diamonds Inc. (MPVD) hit a 30-cent intraday low, a mark not seen since the worst of the COVID collapse in 2020. The stock, over $7 in 2016, lost one-half cent to 31.5 cents on 60,000 shares today.

Kirill Klip's TNR Gold Corp. (TNR) closed unchanged at seven cents on 52,000 shares. Mr. Klip, once destined to be a Soviet railwayman but now a globetrotting fiduciary, is beating the bushes for merger and acquisition opportunities. TNR heard late last month that Lithium Royalty Corp. (LIRC: $10.69) was offering eight cents per share in an all-cash offer to acquire the company. (Suffice it to say that relations between Mr. Klip and Lithium Royalty are about as frosty as those between Russia and Ukraine these days.)

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