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Diamond & Specialty Minerals Summary for March 28, 2019

2019-03-28 19:19 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a weak 60-100-140 as the TSX Venture Exchange fell three points to 622 and polished diamond prices slid 0.3 per cent. Stornoway Diamond Corp. (SWY), Quebec's diamond miner in more ways than one, closed down 1.5 cents to a new all-time low of 16 cents on 1.55 million shares. The fall came on word that the company lost $330-million last year. Stornoway has been able to find the cash it needs to keep going, thanks in part to investments by the Quebec government.

Grenville Thomas and Ken Armstrong's North Arrow Minerals Inc. (NAR), unchanged at 7.5 cents on 76,000 shares, is enthused by its latest kimberlite indicator mineral sampling at the Mel project, 140 kilometres south of Hall Beach and 220 kilometres northeast of Naujaat, on Melville peninsula in central Nunavut. Thirty-five of the 447 10-kilogram samples collected last year produced at least one indicator grain, with one of the samples yielding 34 grains. The samples were collected on an approximate one-kilometre-square grid across the entire 56,000-hectare property.

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