09:58:38 EDT Fri 18 Oct 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Diamond & Specialty Minerals Summary for May 27, 2019

2019-05-27 20:25 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a so-so 66-69-165 as the TSX Venture Exchange rose fractionally to 607 and polished diamond prices rose 0.1 per cent. The market calmed for Stornoway Diamond Corp. (SWY) today. The stock, $1.34 in 2016 but just 1.5 cent on Friday, recovered one cent to three cents on 16.66 million shares today. Investors fear a coming refinancing -- or worse, a possible bankruptcy -- could be in the offing.

Bruce Counts's Lithoquest Diamonds Ltd. (LDI), up one-half cent to 10 cents on 21,000 shares, is cashing up ahead of another drill program at its Kimberley North diamond project, near the northern coast of Western Australia. The company is offering 15 million shares at 10 cents and each share carries a sliver of a net smelter royalty. (The ratio, 1 per cent for each $1-million investment, works out to -- brace your eyes for an avalanche of zeros -- 0.0000001 per cent per share. Despite the minuscule fraction, the royalty could be significant if another Diavik or Ekati were to turn up at Kimberley North: A $100-million annual return of revenue, net of allowable deductions, could result in a payment of 10 cents per share -- in theory at least.)

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2019 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.