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Diamond & Specialty Minerals Summary for March 26, 2019

2019-03-26 21:41 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a poor 70-100-130 as the TSX Venture Exchange gained two points to 634 and polished diamond prices inched lower. Cameron McCall's Macarthur Minerals Ltd. (MMS) continues to trade busily, but today it went lower, dropping three cents to 12 cents on 11.23 million shares. The stock ran from five cents late last week to 16.5 cents Monday on a two-day volume of nearly 65 million shares. The company has a promotable offtake deal to sell iron ore from its Lake Giles project in Western Australia.

Patrick Power's Arctic Star Exploration Corp. (ADD), up one cent to 9.5 cents on 1.16 million shares, has started work at Diagras, its diamond project northeast of Diavik in the Northwest Territories. Arctic Star owns 40 per cent; Margaret Lake Diamonds Inc. (DIA: $0.07) is the majority owner and operator. The two companies plan a variety of ground geophysics targeting historically identified kimberlites, as well as new targets with kimberlite-like signatures. Mr. Power, Arctic Star's founder -- and again its president and chief executive officer after a one-year hiatus -- says that the surveying will "provide detailed data for further analysis and interpretation to identify additional kimberlite potential with drill testing."

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