05:04:59 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Diamond & Specialty Minerals Summary for Dec. 9, 2019

2019-12-09 19:40 ET - Market Summary

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 Monday was a lacklustre 59-80-164 as the TSX Venture Exchange rose fractionally to 537 and polished diamond prices inched higher. Ken MacNeill and George Read's Saskatchewan diamond promotion Star Diamond Corp. (DIAM), continues to trade merrily, free at last of its 20-cent shackle. It dipped one-half cent to 39 cents on 2.37 million shares today after hitting a high of 40.5 cents, a point last seen in mid-2017, just after the company granted Rio Tinto a multistage, multiyear option to earn a 60-per-cent interest in the FalCon project. In mid-November, Rio filed notice that it had completed its earn-in ahead of schedule.

Another zombie diamond explorer is about to take a shot to the head, although yet another may be rising from the dead. Greg Wilson, Jason Goldman and Marc Lustig's Debut Diamonds Inc. (DDI), unchanged at one cent on 142,000 shares, plans to roll back its stock 1:16.667 this week. Frank Smeenk, the company's founder and current president and chief executive officer, says that Debut will continue trading under its existing name and symbol -- but perhaps not for long: The consolidation, which will cut the company's outstanding share count to a still hefty 26.05 million, is a spruce-up for a reverse takeover deal, not a new diamond debut.

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

© 2024 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


Comments for this item are closed