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Diamond & Specialty Minerals Summary for Jan. 15, 2019

2019-01-15 21:27 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a mediocre 69-91-144. The TSX Venture Exchange lost four points to 598 while polished diamond prices were flat. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD), which fell to $1.54 in early December but had clawed its way back to $2 by the end of 2018, has turned bearish again. It dropped six cents to $1.69 on 34,000 shares today. The company was silent about its December sale of rough from the Gahcho Kue mine in the Northwest Territories.

Bruce Counts's Lithoquest Diamonds Ltd. (LDI) gained one-half cent to 11 cents on 10,000 shares, a better day than Monday, when it lost 11 cents to 10.5 cents on 1.5 million shares. The slump followed "microdiamond results" from a kimberlite sample from the 1804 pipe at the company's North Kimberley project, near the northern coast of Western Australia. Unfortunately, the laboratory technicians at the Saskatchewan Research Council facility in Saskatoon did not need their counting and logging skills: There were no diamonds found in the 124 kilograms of material submitted for caustic fusion -- hence Monday's sell-off.

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