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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a ho-hum 72-72-166 draw as the TSX Venture Exchange fell one point to 801. Paul Zimnisky's global rough diamond price index flattened after its two-week dip, sitting unchanged at 126.2 points. And so, the index still hovers just above Mr. Zimnisky's six-month-long horizontal dashed line depicting a flat stretch following a relentless three-year decline in prices from a 2022 high of 207.3 points.

Prices are now 81 points lower, nearly 40 per cent, and remember the record high was unable to generate any enthusiasm for diamond investment. Yes, Mountain Province Diamonds Inc. (MPVD), which had slumped as low as 25 cents amid the COVID-19 lockdown of 2020, had wriggled back to 99 cents in early 2022, thanks to its gems selling for $130 (U.S.) per carat -- close to what it had projected at feasibility in 2014. Unfortunately, most shareholders would take a return to the COVID price with glee, as the stock blew past that multidecade low with disquieting ease. Mountain Province was unchanged at 5.5 cents on 128,000 shares today.

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