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Diamond & Specialty Minerals Summary for Nov. 2, 2023

2023-11-02 20:42 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a middling 82-74-154 as the TSX Venture Exchange rose four points to 519. Laura Lee Duffett's Tres-Or Resources Ltd. (TRS) lost one cent to nine cents on 21,000 shares when it last traded on Friday.

Tres-Or is still cheering the microdiamond counts from its Guigues kimberlite in northwestern Quebec as though it was 2020 -- and the 10 tonnes of kimberlite it subsequently extracted from the pipe as though it was 2021. Unfortunately, while Ms. Duffett still enthuses at great length over the results and the plans, there is no clear word if Tres-Or will follow through on its proposal to process the kimberlite for macrodiamonds in 2024.

Nearly three years ago, Tres-Or applauded word that 511.6 kilograms of Guigues core yielded 58 microdiamonds, a rate of about 110 gems per tonne. This modest haul was great, cheered Ms. Duffett, president and chief executive officer, noting that De Beers Canada pulled microdiamonds from its Victor kimberlite at a rate of just 130 gems per tonne. Yes, that is an eyebrow-raiser, as Victor supported a billion-dollar mine for a decade based on a commercial diamond grade of 23 carats per hundred tonnes, but Ms. Duffett may be comparing Tres-Or apples with De Beers oranges.

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