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by Will Purcell
The diamond and specialty minerals stocks box score on Friday was a resounding 107-50-147. The TSX Venture Exchange added eight points to 587.
Rough diamond prices began the year down nearly 3 per cent from a year ago and they are off 7 per cent from their summer high. Worse, rough prices remain about 20 per cent off their 2011 highs. Canadian diamond miners, not renowned for their large diamonds, fared poorly during 2018. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD), $3.42 on the first day of 2018, began 2019 at $1.99 and dropped three cents to $1.90 on 61,000 shares today. The company's rough diamond prices were disappointing for the second year running, coming in at about $75 (U.S.) per carat, barely half of what had initially been expected. Matt Manson's Stornoway Diamond Corp. (SWY), 67 cents at the start of 2018, ended the year at 19.5 cents, the result of fewer carats than had been expected, and on lower prices. Stornoway gained one-half cent to 24 cents on 657,000 shares today.
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