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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Jan. 23, 2019

2019-01-23 17:50 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a poor 64-90-149. The TSX Venture Exchange fell fractionally to 592 while polished diamond prices edged lower. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD), $7.18 in 2016 when its Gahcho Kue mine was getting under way, slumped to a nine-year low today of $1.42 before ending the day down four cents to $1.49 on 244,000 shares. Gahcho Kue, 250 kilometres northeast of Yellowknife, is getting better than expected grades, but diamond values are barely half of what had been predicted.

Jean-Raymond Boulle's Diamond Fields Resources Inc. (DFR: $0.10) has shipped another 22,166 carats of diamonds from its ML-111 licence off the coast of Namibia for "independent valuation, processing and final sorting" in Europe, where they will be "mixed with those previously shipped in December." The sorting and mixing might appear at odds with each other; but the bottom line is that the company and its co-venturer, International Mining and Dredging Holding Ltd. (IMDH), will have a total of 47,318 carats of diamonds valued and sorted into the many classifications -- pending sale one assumes.

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