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Diamond & Specialty Minerals Summary for May 23, 2019

2019-05-23 20:18 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a mediocre 54-78-168 as the TSX Venture Exchange fell eight points to 602 and polished diamond prices rose 0.1 per cent. Stornoway Diamond Corp. (SWY) set a record low of 4.5 cents (ending its busiest day since 50 million shares traded in a two-day period at the end of March) unchanged at 5.5 cents on 11.4 million shares. The March slump was triggered by word of a $330-million loss in 2018. This one is based on fears of what might lie ahead.

Grenville Thomas and Kenneth Armstrong's North Arrow Minerals Inc. (NAR: $0.07) has news about its shrinking interest in the Lac de Gras (LDG) project, a joint venture with Dominion Diamond Mines, which Montana-based billionaire Dennis Washington took private in a $1.2-billion acquisition in the fall of 2017. Mr. Armstrong, North Arrow's president and chief executive officer, says that Dominion has revealed that a spring geophysics program is complete and data evaluation is under way.

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