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Diamond & Specialty Minerals Summary for Feb. 28, 2019

2019-02-28 20:47 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a ho-hum 78-87-136 as the TSX Venture Exchange gained three points to 623 and polished diamond prices lost 0.15 per cent. Ken MacNeill and George Read's Saskatchewan diamond promotion, Star Diamond Corp. (DIAM), closed unchanged at 21.5 cents on 650,000 shares. There is nothing new, but work by Rio Tinto PLC on its 10-hole bulk sample of Star should start soon.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD), up three cents to $1.38 on 212,000 shares, will complete more drilling this year at its Kennady Lake diamond project, just northeast of Gahcho Kue in the Northwest Territories. The company is planning 2,000 metres of drilling to test a series of new targets, identified through a detailed data compilation program last year. The company, which married its own data with information obtained from GGL Resources Corp. (GGL $0.08) four years ago, says that the resulting product was a glacial till ranking scheme that could be combined with geophysical data to generate targets -- which it presumably did.

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