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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Jan. 29, 2019

2019-01-29 19:48 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a ho-hum 72-80-148 as the TSX Venture Exchange rose fractionally to 615. Polished diamond prices were flat, but there is plenty of gloom in the diamond sector this week. De Beers just held its first sale of the year and while it maintained prices, volume declined by about 25 per cent.

Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC), up three cents to $1.62 on 576,000 shares, has recovered a 240-carat diamond from its Karowe mine in Botswana. The top-white gem will be offered at the company's next diamond sale, scheduled for early March. Ms. Thomas, chief executive officer, says that It will be sold alongside a 127-carat top-white diamond recovered two weeks ago, as well as other exceptional gems recently recovered at the mine.

Ms. Thomas and her crew point out that Karowe has produced 54 diamonds weighing over 200 carats in the past seven years; 12 of which weighed more than 300 carats. (So far, the 1,109-carat Lesedi la Rona and the 813-carat Constellation diamonds, recovered within a few days of each other in 2015, subsequently sold for over $50-million (U.S.) each. None of the other finds came close to matching the weight of those sparklers.)

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