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Diamond & Specialty Minerals Summary for Feb. 4, 2019

2019-02-04 18:54 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a weak 79-100-121 as the TSX Venture Exchange rose two points to 625 and polished diamond prices edged lower. Sheldon Inwentash and Arno Brand's Gratomic Inc. (GRAT), a graphite explorer touting graphene for tire production, continues to trade busily but go nowhere. Today it lost one-half cent to 11 cents on 5.48 million shares.

James Bruchs's Tsodilo Resources Ltd. (TSD: $0.235) may (or may not) have a new president and chief operating officer. The company's old president and COO, Dr. Michiel de Wit, resigned last week. He also quit the company's board, although Mr. Bruchs, chairman and chief executive officer, assures shareholders that Dr. de Wit will remain "closely associated with the company" as a technical adviser. What Mr. Bruchs did not say, is whether Tsodilo has a replacement lined up.

Dr. de Wit appears to have anointed his replacement, stating that he is confident that Tsodilo's projects will continue to move forward under the direction of Dr. Alistair Jeffcoate, "who has worked alongside me for the past five years." That may be premature, however, as while Tsodilo has already updated its website to move Dr. de Wit from his management role to that of an adviser, it makes nary a mention of Dr. Jeffcoate. (Dr. Jeffcoate's LinkedIn social media page still lists him as chief geologist and project manager for Tsodilo.)

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