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Diamond & Specialty Minerals Summary for Feb. 27, 2019

2019-02-27 20:33 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a weak 65-89-147 as the TSX Venture Exchange lost three points to 620 and polished diamond prices regained 0.1 per cent. Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC) gained one cent to $1.66 on 2.2 million shares. The company is expecting another good year at its Karowe diamond mine in Botswana.

Brian Testo's Grizzly Discoveries Inc. (GZD: $0.05) is facing a pivotal year at its diamond project in the Buffalo Hills district of Northern Alberta since it must resume work on the 70,700-hectare property to keep it in good standing. The project was the company's focus through the mid-2000s, but Mr. Testo, president and chief executive officer, shifted his gaze to metals after 2008, when "the market appetite for diamond projects weakened significantly." (That is an understatement -- diamond investors have effectively been on a hunger strike for the past decade, taking just a few nibbles here and there.)

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