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Diamond & Specialty Minerals Summary for Jan. 16, 2019

2019-01-16 19:55 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a weak 63-89-152. The TSX Venture Exchange fell fractionally to 598 while polished diamond prices rose 0.1 per cent. Toby Mayo's Far Resources Ltd. (FAT) gained 2.5 cents to 13 cents on 6.25 million shares. The company recently got around to saying that it had reappointed its senior officers at its annual meeting in mid-December, but its last material news, from the Zoro lithium project in Northern Manitoba, is now a stale two months old.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD), down six cents to $1.63 on 68,000 shares, is cheering its record production at its 49-per-cent-owned Gahcho Kue diamond mine, 250 kilometres northeast of Yellowknife in the Northwest Territories. The mine generated 6.93 million carats from 3.19 million tonnes of kimberlite mined at the 5034 and Hearne open pits, averaging 2.17 carats per tonne. The production grade continued to sparkle, especially when compared with the feasibility estimate of less than 1.7 carats per tonne.

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