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Diamond & Specialty Minerals Summary for May 31, 2019

2019-05-31 20:43 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a 66-66-168 draw as the TSX Venture Exchange fell fractionally to 601 while polished diamond prices edged lower. Ken MacNeill and George Read's Saskatchewan diamond promotion, Star Diamond Corp. (DIAM) remains stalled near the 20-cent mark, its home perch for most of the past seven years. For the past two of those years, Star has had help on its Star-Orion South project, where Rio Tinto PLC is earning a 60-per-cent interest through $70-million of work including a feasibility study. Star fell one-half cent to 21.5 cents on 90,000 shares today.

Leon Daniels's Pangolin Diamonds Corp. (PAN: $0.045) has hired Toronto-based Boswell Capital Corp. to act as its "strategic consultant and corporate adviser" for the next year. (Everything on Howe Street is touted as strategic, but the look of Pangolin's five-year chart suggests the company had been getting random advice from haphazard consultants.) Mr. Daniels, Pangolin's president and chief executive officer, dubs Boswell a provider of guidance to numerous international resource companies, investment funds and end-users -- and here comes a likely motive -- while also investing its own capital in select resource companies.

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