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Diamond & Specialty Minerals Summary for May 28, 2019

2019-05-28 19:15 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a mediocre 74-79-147 as the TSX Venture Exchange fell one point to 606 and polished diamond prices were flat. Mark Smith's Largo Resources Ltd. (LGO) rebounded nine cents to $1.59 on 3.48 million shares. Largo, a vanadium producer in Brazil, surged higher with vanadium prices last year, then retreated as prices fell this year. Stornoway Diamond Corp. (SWY) recovered one-half cent to 3.5 cents on 17.1 million shares.

Laura Lee Duffett's Tres-Or Resources Ltd. (TRS), up one-half cent to three cents on 93,000 shares after a multiday halt, intends to promote, and perhaps this time explore its big Guigues kimberlite pipe in the Lac Temiscamingue region of Quebec. The company acquired the project in the early 2000s, picking up where previous explorers left off. (Unfortunately, where they left off was sitting idle, an exploration approach that Tres-Or also proved rather adept at for the past decade.) That may change, as the company is rolling back its stock 1:10 and is seeking $1-million through the sale of 1.97 million consolidated shares at 19 cents.

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