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Diamond & Specialty Minerals Summary for May 24, 2019

2019-05-24 18:42 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a mediocre 64-69-167 as the TSX Venture Exchange rose five points to 607 and polished diamond prices inched higher. Stornoway Diamond Corp. (SWY) set a record low -- yes, Stornoway again, and yes, another low among lows -- dropping to 1.5 cents and ending the day down 3.5 cents to two cents on a whopping 108.6 million shares. There was no news, but investors anticipate a portfolio crushing refinancing.

George Read and Ken MacNeill's Star Diamond Corp. (DIAM), unchanged at 22 cents on 442,000 shares, says that Rio Tinto PLC, its joint venture partner on the Fort a la Corne diamond project in central Saskatchewan, has finished all 10 cutter soil mixing panels on the Star pipe, ahead of a big bulk sampling program. That is not news to the company's loyal retail shareholders who have been around long enough and researched enough to suss out workable timetables for the various components of the big test. Still, the news that they are eagerly waiting for -- the start of the actual test -- remains some time off.

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