13:26:01 EDT Wed 16 Oct 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Diamond & Specialty Minerals Summary for April 8, 2019

2019-04-08 20:02 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a weak 66-89-145 as the TSX Venture Exchange rose two points to 632 while polished diamond prices edged upward.

Canadian diamond miners slog onward as weak prices for smaller and lower-quality rough diamonds hammer companies producing lower-value goods. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD), which opened its Gahcho Kue mine in the Northwest Territories in 2016, hovers at a nine-year low. (It dropped two cents to $1.14 on 326,000 shares today.) Stornoway Diamond Corp. (SWY), which opened its Renard mine in Quebec in mid-2016, closed unchanged at 10.5 cents on 3.15 million shares today. Last week, Stornoway reeled to an all-time low of nine cents.

Those two companies are the only remaining public companies with diamond mines in Canada, but there are signs that two big private miners are doing no better. Montana-based billionaire, Dennis Washington, took Dominion Diamond Corp. private in the fall of 2017 through a $1.5-billion cash offer that valued Dominion at $18.50 per share. At the time, Mountain Province's stock was trading near $3.50, and Stornoway's shares were at 75 cents; they have since lost 70 per cent and 85 per cent of their value respectively.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2019 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.