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Diamond & Specialty Minerals Summary for April 29, 2019

2019-04-29 18:33 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a bleak 44-101-155 as the TSX Venture Exchange rose one point to 612 and polished diamond prices inched higher. Akash Patel's Cameo Industries Corp. (CRU) jumped 1.5 cents to 13.5 cents on 2.58 million shares. The company, which claims a "robust and diversified portfolio" of mineral assets thanks to a "complete overhaul," had been Cameo Cobalt until late last week. It had adopted that name in an overhaul last spring, having previously been Cameo Resources. It did not change its name in a 2017 overhaul but did roll back its stock 1:25. (The Cameo moniker appeared in a 2012 overhaul that included a 1:30 rollback.)

James Bruchs's Tsodilo Resources Ltd. (TSD), down one cent to 19 cents on 7,000 shares, is pondering a big bulk sample of its BK16 kimberlite in Botswana. The company has started work on developing an engineering study for a sampling program that would extract up to 20,000 tonnes of kimberlite for processing. Tsodilo believes that amount of rock would produce between 500 and 1,000 carats of diamonds, enough to "enhance diamond valuation and size frequency studies" for a more detailed assessment of the viability of BK16, and to move the project toward a bankable feasibility study.

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