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Diamond & Specialty Minerals Summary for Dec. 4, 2018

2018-12-04 20:32 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a forgetable 51-96-143. The TSX Venture Exchange lost 11 points to 572 while polished diamond prices lost 0.1 per cent. Sheldon Inwentash and Arno Brand's Gratomic Inc. (GRAT) gained one-half cent to 14.5 cents on 5.93 million shares. The company is raising cash to advance its promotion of specialty graphite and graphene products produced from its Aukam graphite deposit in Namibia.

Brian Daltron and John Baker's Altius Minerals Corp. (ALS), up one cent to $12.97 on 89,000 shares, is pressing ahead with its spinoff of the Lynx diamond project in northern Manitoba as a new company, Adia Resources Inc. At this point, Altius owns 10 million Adia shares, while the Lynx group of prospectors, who discovered the diamondiferous outcrop near Oxford House in 2008 and optioned it to Altius in 2016, hold 2.5 million shares. Adia is currently selling another six million shares to insiders and "other strategic investors" at 50 cents. Next spring De Beers is expected to invest $1.5-million in services at a deemed value of 50 cents.

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