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by Will Purcell
The diamond and specialty minerals stocks box score on Friday was a poor 60-95-146 as the TSX Venture Exchange lost three points to 637 and polished diamond prices were flat. Mark Smith's Largo Resources Ltd. (LGO), $4.66 in November, dropped seven cents to $2.14 on 2.65 million shares today. The company assures investors that it is business as usual at its Maracas Menchen vanadium mine in Brazil, but it is also business as usual on the commodity markets: Vanadium oxide, $2.40 (U.S.) per pound three years ago and over $33 (U.S.) per pound last fall, has slumped to barely $16 (U.S.) per pound this week.
Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) closed unchanged at $1.23 on 515,000 shares. The company discussed its 2018 financial results with analysts on a Thursday morning conference call. Mr. Brown, president and chief executive officer, said that his company "met or exceeded" its guidance in its first full year of production last year. Nevertheless, there now appears to be an acknowledgement -- or at least a worry -- by the company and analysts that the rosy rough diamond forecasts are a thing of the past.
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