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Diamond & Specialty Minerals Summary for Feb. 20, 2019

2019-02-20 17:58 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a weak 70-89-141 as the TSX Venture Exchange rose fractionally to 622 and polished diamond prices were flat. Sheldon Inwentash and Arno Brand's busy graphite promotion, Gratomic Inc. (GRAT), gained one cent to 8.5 cents on 5.33 million shares. The company wants to mine graphite in Namibia and produce graphene for use in high-performance tires. The company's stock is spinning its wheels frantically, but its story has yet to gain traction.

Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC), down one cent to $1.82 on 1.41 million shares, has recovered another large diamond at its Karowe mine in Botswana. The 223-carat, high-white gem is the latest of "several" high-quality diamonds weighing over 100 carats that have been recovered this year. Ms. Thomas, chief executive officer since she replaced Dr. William Lamb a year ago in a management shuffle, appears to be using the low-end definition of several -- more than two -- since she says the stone will be offered alongside two other big gems in the company's next sale. Those two other gems, 240-carat and 127-carat stones, were recovered in January.

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