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Diamond & Specialty Minerals Summary for May 6, 2019

2019-05-06 19:59 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a mediocre 66-73-161 as the TSX Venture Exchange fell two points to 603 and polished diamond prices inched upward. There is a certain irony to it, but Stornoway Diamond Corp. (SWY) won all the awards at Quebec's annual mine rescue competition. Meanwhile, Stornoway, up one-half cent to 6.5 cents on 1.46 million shares, is cobbling together a financial rescue for its Renard mine, which racked up $330-million in red ink last year.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM) ticked up one cent to 25 cents on 103,000 shares. Spring is here and investors are impatient for the start of the big bulk sampling program at the Star and Orion South kimberlites in central Saskatchewan. In mid-April, Mr. Read, the company's senior vice-president, said that the trench cutter sampling "was scheduled to commence once the warmer weather arrives." Mr. Read now says that Star's partner, which is paying the bills and operating the program, "aims to use" a Bauer BC-50 cutter mounted on a big crane.

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