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Diamond & Specialty Minerals Summary for June 14, 2019

2019-06-14 18:36 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a mediocre 69-81-150 as the TSX Venture Exchange fell one point to 587 and polished diamond prices were flat. The shares of beleaguered Quebec diamond miner, Stornoway Diamond Corp. (SWY), continue to churn, closing unchanged at two cents on 19.9 million shares today. The stock, $1.34 in 2016, has been as low as 1.75 cents this week, and nearly 380 million shares have traded in the past three weeks.

The final vote tallies were reminiscent of the situation three years ago with Star Diamond Corp. (DIAM), but a simmering shareholder revolt at Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) was loosely organized at best. Mountain Province, which gained four cents to $1.45 on 53,000 shares, said that all its directors were re-elected at the company's annual general meeting, held in Toronto on Thursday. Nevertheless, there was some significant dissent.

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