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Diamond & Specialty Minerals Summary for July 11, 2019

2019-07-11 20:45 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a weak 55-76-163 as the TSX Venture Exchange fell five points to 580 and polished diamond prices inched higher. Katanga Mining Ltd. (KAT) added six cents to 51 cents on 1.07 million shares. The company is treading carefully between artisans illegally mining on and near its copper and cobalt property in the Democratic Republic of the Congo, and the DRC military, sent in to halt the activity. Vladimir Iorich's Cobalt 27 Capital Corp. (KBLT) lost three cents to $4.17 on 625,000 shares. Not all the company's shareholders are pleased with the plan to sell itself to Mr. Iorich's Pala Investments Ltd.

Stornoway Diamond Corp. (SWY) closed unchanged at two cents on 1.39 million shares. The company, increasingly a ward of the Quebec government, mined more diamonds at its Renard mine in its spring quarter than it did in the winter but it sold them for less. The mine, in the Otish Mountains area of north-central Quebec, produced 463,136 carats from 695,934 tonnes of kimberlite in the second quarter, averaging 67 carats per hundred tonnes. In the first quarter, the company produced 444,562 carats from 582,613 tonnes, averaging 76 carats per hundred tonnes.

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