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Diamond & Specialty Minerals Summary for April 10, 2019

2019-04-10 21:20 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a positive 84-66-150 as the TSX Venture Exchange rose fractionally to 629 while polished diamond prices gained 0.1 per cent. Akash Patel's Cameo Cobalt Corp. (CRU), up one cent to 15 cents on 3.21 million shares, recently sold 24.3 million shares at 10 cents. Mr. Patel, president and chief executive officer, says that the cash is needed to ensure that its Max mine and mill in British Columbia remain in compliance with environmental standards.

The end of the winter blahs has come not a moment too soon for Patrick Godin's Stornoway Diamond Corp. (SWY). Stornoway, $1.34 in 2016 but just nine sad cents last week, lost one-half cent to 10 cents on 2.37 million shares on its first quarter production results from the Renard mine in Quebec. Fortunately, the mine's diamond production and sales show just enough improvement that the company should be able to keep the proverbial wolf, and the promotional bear, from its door a while longer.

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