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Diamond & Specialty Minerals Summary for Feb. 19, 2019

2019-02-19 20:35 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a mediocre 80-83-137 as the TSX Venture Exchange gained six points to 622 and polished diamond prices edged lower. Patrick Evans, who at one time or another had led four of Canada's more active diamond explorers, has resurfaced. He left his most recent job, president and chief executive officer of Dominion Diamond Corp., late last year. He had been appointed to run that company in the fall of 2017, after Dennis Washington's private Washington Group of companies bought it for $1.2-billion, but he departed after barely a year on the job, joining what has been described as an "exodus" of Dominion's top management.

Mr. Evans, a former South African diplomat, got his start as a director, and later as president and CEO, of SouthernEra Diamonds Inc. After that company disappeared in a 2007 takeover, he became president and CEO of Mountain Province Diamonds Inc. (MPVD: $1.37). Mr. Evans resigned in the spring of 2017 in what was tactfully called a "mutual decision." He had also been president and CEO of Mountain Province's diamond spinoff, Kennady Diamonds Inc., but he left that company in 2016, as the company wanted a head who was independent of Mountain Province. (It got one, Dr. Rory Moore, but he did not last long: Mountain Province reabsorbed Kennady early last year.)

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