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Diamond & Specialty Minerals Summary for Jan. 17, 2019

2019-01-17 20:16 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a ho-hum 75-80-149. The TSX Venture Exchange lost three points to 594 while polished diamond prices were flat. David Pathe's Sherritt International Corp. (S) -- "the name in nickel" -- lost one-half cent to 42 cents on 3.21 million shares. Sherritt is also one of the names bandied about among cobalt investors. The company was expecting 2018 production of up to 31,000 tonnes of nickel and 3,400 tonnes of much pricier cobalt last year.

Patrick Godin's Stornoway Diamond Corp. (SWY), down one-half cent to 20.5 cents on 395,000 shares, produced just 1.32 million carats of rough diamonds at its Renard mine in north-central Quebec last year. The haul fell short of the company's revised 2018 guidance, which called for between 1.35 million and 1.4 million carats. That was doubly disappointing since Stornoway had predicted 1.6 million carats last year before it rejigged the forecast in May.

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