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Diamond & Specialty Minerals Summary for March 8, 2019

2019-03-08 20:37 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a weak 68-89-145 as the TSX Venture Exchange gained two points to 618 and polished diamond prices edged lower. Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) lost two cents to $1.27 on 606,000 shares. The stock, which traded at $7.18 in the fall of 2016, dipped to yet another nine-year low this week, trading briefly at $1.26 on Thursday. The next big chance to reverse the multiyear slide will come on March 20, when the company rolls out its fourth quarter and 2018 results. Perhaps the company will also take the opportunity to offer details of its last two sales of rough from the Gahcho Kue mine.

Bruce Counts's Lithoquest Diamonds Ltd. (LDI), down one-half cent to nine cents on 48,000 shares, says that its 1804 kimberlite on its the North Kimberley property, near the north coast of Western Australia, is 211 million years old. This, the company says, is "distinctly different" from other kimberlites in the area, which have been dated to about 800 million years old.

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