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Diamond & Specialty Minerals Summary for Jan. 11, 2019

2019-01-11 18:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a weak 71-93-150. The TSX Venture Exchange added four points to 601 while polished diamond prices were flat.

Patrick Power's Arctic Star Exploration Corp. (ADD) lost one-half cent to five cents on 1.29 million shares. The company has been silent for the past month; never a good way to sustain a stock promotion. When Mr. Power, president and CEO, does have something to say, it is usually about the company's Timantti diamond project in northern Finland and when he last mentioned Timantti, he was mulling the prospect of trenching and drilling early this year.

Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC), up five cents to $1.61 on 1.79 million shares, has recovered a 127-carat, top-white diamond from its Karowe mine in Botswana. Ms. Thomas, who replaced Dr. William Lamb as president and chief executive officer in February, says that the diamond "attests to the remarkable nature of the Karowe orebody," which, she says, has consistently delivered large, high-value diamonds throughout its history. She points to the 129 diamonds larger than 100 carats that have been recovered since mining began in 2012, 33 last year alone. (The mine has produced 12 diamonds larger than 300 carats, including five that were recovered last year.)

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