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Diamond & Specialty Minerals Summary for Dec. 19, 2018

2018-12-19 19:01 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a dismal 49-91-150. The TSX Venture Exchange fell one point to 541 while polished diamond prices edged lower. Ken MacNeill and George Read's Star Diamond Corp. (DIAM) rose 1.5 cents to 24 cents on 260,000 shares. There is no news from the company's Star-Orion South diamond project in central Saskatchewan, but a big bulk sampling program is set to resume -- get started would be a better description -- in spring.

Dan Weir's DNI Metals Inc. (DNI), up one-half cent to 5.5 cents on 102,000 shares, has a tentative arrangement that would have a private company controlled by James Atkinson acquire an option on a 51-per-cent interest in DNI's Black Shales project in northeastern Alberta. The private company would pay $100,000 in cash initially and $150,000 later, plus it must spend $1-million on exploration by early 2021. From there, DNI would be carried to feasibility, after which it would have to pay its way or be diluted to a 2-per-cent royalty. (The plan calls for Mr. Atkinson's company to go public through a reverse takeover or initial public offering.)

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