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Diamond & Specialty Minerals Summary for April 25, 2019

2019-04-25 20:26 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a so-so 73-69-158 as the TSX Venture Exchange rose fractionally to 608 and polished diamond prices edged lower. Guy Bourassa's Nemaska Lithium Inc. (NMX) closed unchanged at 27 cents on 5.48 million shares. There has been no news in a month from Nemaska, which is probably good since most of what the company has had to say this year has been discouraging. Construction of the company's Whabouchi lithium is well over budget and behind schedule, leaving the company in a cash crunch.

It took a few years, but Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC) has been vindicated for its $34-million (U.S.) capital expenditure on a megadiamond recovery circuit add-on to its processing plant at the Karowe mine in Botswana. Lucara jumped 10 cents to $1.68 on 1.08 million shares today following word that it has recovered a 1,758-carat diamond, by far the largest yet from a mine renowned for producing huge gems. The stone was 8.3 centimetres long, 6.2 centimetres wide and 4.6 centimetres deep -- big enough to fill an adult hand.

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