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Diamond & Specialty Minerals Summary for April 11, 2019

2019-04-11 20:02 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a bleak 56-91-153 as the TSX Venture Exchange fell four points to 624 while polished diamond prices edged lower. Trent Mell's First Cobalt Corp. (FCC), $1.66 two years ago, lost two cents to 16.5 cents on 3.53 million shares. The company is working to get a cobalt refinery in Northeastern Ontario running but it has a lot more work to do, including lining up ore to feed the plant.

Brian Dalton and John Baker's Altius Minerals Corp. (ALS), down 12 cents to $12.41 on 16,000 shares, is plodding ahead with its spinoff of the Lynx diamond project as Adia Resources Inc. The still private Adia has raised $3.53-million through the sale of 3.2 million regular shares at 50 cents and 2.4-million flow-through shares at 77.5 cents in late winter. Among the 25 unnamed buyers were "several well-known diamond industry experts and professionals," according to Altius's pleasant spin.

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