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Diamond & Specialty Minerals Summary for June 3, 2019

2019-06-03 20:08 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a so-so 80-73-147 as the TSX Venture Exchange fell six points to 594 and polished diamond prices rose 0.1 per cent.

Don Bubar's Avalon Advanced Materials Inc. (AVL) lost one cent to 11 cents on 8.24 million shares. The stock, a five-center for most of the past year, sprang to life two weeks ago, popping up five cents to 9.5 cents on 20.5 million shares. It got as high as 17.5 cents last Thursday on 33.6 million shares, but the upward momentum has lost its steam since then. Avalon has had no news in two months, but retail investors are again warming to rare earth promotions.

David Kelsch and Douglas Eaton's GGL Resources Corp. (GGL: $0.07) has sold 4.14 million shares at eight cents and 550,000 flow-through shares at 10 cents, raising all but $14,000 of the $400,000 the company had been seeking. The sale had considerable help from insiders -- well, one insider -- as Mr. Eaton's private company, ECEE Money Ltd., bought 1.88 million of the shares for $150,000. The sale boosts Mr. Eaton's interest in GGL to just over 13 per cent. (Mr. Eaton arrived in a 2017 management shuffle as chief executive officer as a replacement for the company's founder, Ray Hrkac. Mr. Kelsch was also appointed president in that move.)

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