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Diamond & Specialty Minerals Summary for April 24, 2019

2019-04-24 18:03 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a mediocre 66-78-156 as the TSX Venture Exchange fell fractionally to 608 while polished diamond prices edged lower. Investors -- especially those still holding the stock -- are probably tired of hearing this, but Stornoway Diamond Corp. (SWY) set an all-time low of six cents before closing unchanged at seven cents on 5.51 million shares. The company says it is turning the corner at its Renard diamond mine in Quebec, but it is a sharp bend given Stornoway's $300-million loss last year.

Dr. Graham Carman's Tinka Resources Ltd. (TK), up one-half cent to 32.5 cents on 76,000 shares, has begun a new drill program on its Ayawilca tin and zinc project in central Peru. The company plans up to 10,000 metres of drilling this year on the zinc portion of the project. One rig is currently running; another will join it within a few weeks. The new holes are nominally infill tests, but they will also probe for "structural repetitions" of high-grade mineralization in limestones beneath the existing resource.

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