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Diamond & Specialty Minerals Summary for March 18, 2019

2019-03-18 21:06 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a weak 69-86-147 as the TSX Venture Exchange rose four points to 632 and polished diamond prices edged lower. Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) set a new nine-year low of $1.22 today, closing down two cents to $1.25 on 137,000 shares. The company will reveal its 2018 results on Wednesday.

Jean-Raymond Boulle and Sybrand van der Spuy's Diamond Fields Resources Inc. (DFR), up 2.5 cents to 15.5 cents on 14,000 shares, has received $1.1-million (U.S.) from the latest sale of diamonds mined from the ML-111 licence, off the coast of Namibia. The diamonds were recovered by the company's co-venturer, International Mining and Dredging Holding (IMDH), under the terms of an agreement the two companies reached in 2015. That agreement called for three stages of work, culminating in a six-month non-continuous trial mining program, before a fourth phase, mining, kicks in.

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