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Diamond & Specialty Minerals Summary for May 2, 2019

2019-05-02 21:30 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a bleak 55-100-145 as the TSX Venture Exchange fell eight points to 601 and polished diamond prices edged lower. Patrick Power's Arctic Star Exploration Corp. (ADD) gained 1.5 cents to 8.5 cents on 8.11 million shares. The company is getting ready for another push on its Timantti diamond project in Finland, although given its modest treasury, it will be more a nudge than a shove. Sheldon Inwentash and Arno Brand's Gratomic Inc. (GRAT) closed unchanged at five cents on 3.01 million shares without any news from the company, a Namibian graphite explorer and graphene-in-tires promoter.

Bruce Counts's Lithoquest Diamonds Ltd. (LDI), up one cent to 10.5 cents on 2,000 shares, has identified 20 priority target areas, not to be confused with priority drill targets, on its North Kimberley diamond project near the northeastern coast of Western Australia. Mr. Counts, president and chief executive officer, says that the priority target areas were learned from a "thorough review of all available data" collected over the past few years. (It is unclear if previous reviews were lackadaisical, or if the company is applying a new technique.) Either way, Mr. Counts says that three of the target areas met all three of the company's criteria, so they are the highest priority, leaving the 17 others that satisfied two of the criteria as run-of-the-mill priorities.

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