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Diamond & Specialty Minerals Summary for Dec. 20, 2018

2018-12-20 17:54 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a mediocre 66-85-139. The TSX Venture Exchange fell four more points to 537 while polished diamond prices were flat. Not all cobalt promotions are doing well: Chris Healey's Cobalt Power Group Inc. (CPO) dropped one-half cent to one cent on 6.04 million shares. The company is planning a 1:12 rollback soon.

Dermot Desmond's Canadian diamond miner, Mountain Province Diamonds Inc. (MPVD) added another five cents to $1.83 on 398,000 shares. The stock, just $1.61 early this week, has been inching higher the past few days without benefit of news. There could be news soon, however, as the company wrapped up its tenth and final sale of the year late last week. The diamonds are from its 49-per-cent share of production from the Gahcho Kue mine, 250 kilometres northeast of Yellowknife in the Northwest Territories. (The company receives the diamonds and ships them to Antwerp, where they are sold by Bonas Diamond Brokers and Consultants.)

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