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Diamond & Specialty Minerals Summary for March 1, 2019

2019-03-01 20:22 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a rousing 88-58-156 as the TSX Venture Exchange gained one point to 625 and polished diamond prices edged lower. Dr. Waldo Perez's Neo Lithium Corp. (NLC) has said nothing new in two weeks but its stock jumped six cents to 76 cents on 1.47 million shares today. The company should be firing up a pilot plant at its Tres Quebradas lithium brine project in Argentina shortly.

Glenn Kasner's RJK Explorations Ltd. (RJX.A), unchanged at 7.5 cents on 89,000 shares, is getting set to drill targets at its Nipissing diamond project, also known as Bishop, just south of Cobalt in Northeastern Ontario. Mr. Kasner, president and chief executive officer, says that the company is now plowing its way to the drilling sites and the work will start shortly.

A recent report recommended drilling to test "two prime targets" covered by an airborne magnetic survey. The company's consultants say that the drilling will not be costly, given the ease of access. The proposed budget for the program was $150,000 for the drilling and $50,000 to cover report writing and core logging. Further costs would be associated with laboratory work, estimated at a "minimum of $10,000 and up depending on drilling results." (The cost would be nil if no kimberlite is encountered, but considerably more if RJK scores lengthy hits.)

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