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Diamond & Specialty Minerals Summary for Feb. 14, 2019

2019-02-14 20:35 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a mediocre 62-75-163 as the TSX Venture Exchange fell one point to 608 and polished diamond prices dipped 0.1 per cent. It was another day, another new nine-year low for Dermot Desmond's Mountain Province Diamonds Inc. (MPVD). The stock dipped to $1.32 in morning trading, ending the day down one cent to $1.39 on 597,000 shares. The company's February sale of Gahcho Kue rough is under way in Belgium.

Louis Doyle's Barker Minerals Ltd. (BML) closed unchanged at one-half cent on 50,000 shares when it last traded on Monday. It has been years since Mr. Doyle, president and chief executive officer, last mentioned Barker's Tasse diamond project in the Cariboo district of British Columbia, but he now says that the prospect is "at the exploration drill stage." He points to accessible targets identified on logging access roads, in areas where significant diamond indicator minerals have been identified in earlier work. (Mr. Doyle does not say when or by whom the drilling would be completed. Barker now fancies itself a prospect generator, not an explorer, which is a tactful way of saying that it has no cash of its own to spend on exploration.)

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These summaries beg the questions. If these are the best news stories the market has to offer under this heading, a company with 0.005 bid and 0.01 offer and no trades in the worlds biggest bull market period from 2016 onwards, is the company philosophy out to lunch, and is this column out of touch with the market too?

Posted by question at 2019-02-15 10:13

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