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Diamond & Specialty Minerals Summary for Feb. 1, 2019

2019-02-01 20:04 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a weak 68-89-143 as the TSX Venture Exchange rose fractionally to 622 and polished diamond prices inched lower. Chris Taylor and Chuck Fipke's Dunnedin Ventures Inc. (DVI) traded briskly, closing unchanged at 6.5 cents on 4.42 million shares. There is no news to account for the company having its busiest day in years, but the trading is the result of one seller unloading just over 2.6 million shares at six cents through Echelon Wealth Partners Inc.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD), up six cents to $1.63 on 270,000 shares, is touting its next sale of rough diamonds from its 49-per-cent-owned Gahcho Kue mine in the Northwest Territories, scheduled for mid-February. Curiously, Mr. Brown, president and chief executive officer, has not yet mentioned the company's previous sale, which wrapped up in Antwerp 10 days ago. The delay is normal: Mountain Province usually reports results of its sales between one and two weeks after the viewings conclude. Nevertheless, there are signs, most of them external, that the January sale may have been another tough one.

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