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Diamond & Specialty Minerals Summary for Feb. 12, 2019

2019-02-12 20:06 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a positive 80-72-148 as the TSX Venture Exchange rose three points to 612 and polished diamond prices were flat. Samer Khalaf and Terry Tucker's Tango Mining Ltd. (TGV) traded busily, closing unchanged at 1.5 cents on 8.24 million shares. The usually thin-trading stock recently saw over 20 million shares trade in five days starting at the end of January, dipping one cent to 1.5 cents without supporting news.

Patrick Power's Arctic Star Exploration Corp. (ADD), down one-half cent to 3.5 cents on 407,000 shares, has sold its Cap rare earth project in north-central British Columbia to Eagle Bay Resources Corp. for 17 million shares. Mr. Power, Arctic Star's president and chief executive officer, says that the arrangement, which gives his company a controlling interest in Eagle Bay, will allow Arctic Star to focus on diamond exploration, development and production. (He is getting a bit ahead of himself: Arctic Star's exploration has yet to yield any diamond deposit worthy of development, much less production.)

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