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Diamond & Specialty Minerals Summary for March 4, 2019

2019-03-04 19:07 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a positive 85-80-137 as the TSX Venture Exchange fell two points to 622. Rough diamond prices edged lower again last week, dipping another 0.1 per cent. Chris Taylor's Dunnedin Ventures Inc. (DVI) closed unchanged at 7.5 cents on 546,000 shares. The company insists that it is focused on diamonds at Kahuna, in Nunavut, but all mention of gems has been consigned to news release boilerplate this year. The latest offhand mention came today, when Dunnedin acquired a copper prospect in Arizona and promised drilling there, later this year.

Dr. Leon Daniels's Pangolin Diamonds Corp. (PAN), down one-half cent to 3.5 cents on 5,000 shares, recently received the final $200,000 payment from Dr. Christopher Jennings's Umgeni Holdings International Ltd. for a 2.6-per-cent royalty on the Malatswae, Moenyenana and Motloutse diamond projects in Botswana. (Umgeni paid $600,000 late in 2017 for a 1.3-per-cent royalty; it doubled down late last year, offering another $600,000 to increase the royalty.) According to the terms of the agreement, the cash must be spent exploring the properties covered by the royalty.

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