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Diamond & Specialty Minerals Summary for July 15, 2019

2019-07-15 19:57 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a weak 57-84-153 as the TSX Venture Exchange rose three points to 579 and polished diamond prices inched lower. Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC), these days as quiet as a field mouse under the gaze of a hungry hawk, dipped another three cents to $1.51 on 588,000 shares. Lucara has said nothing in the past two months, perhaps because it has nothing good to say: The company is doing well with its Karowe mine in Botswana, but rough diamond prices are slumping.

Laura Lee Duffett's Tres-Or Resources Ltd. (TRS), unchanged at 20 cents on 3,000 shares, is inching closer to drilling the Guigues kimberlite, near Lac Temiscamingue in northwestern Quebec. Tres-Or acquired the project in the early 2000s and spent several years intermittently working the area -- until diamond exploration became a market anathema in the early 2010s. Ms. Duffett paid Guigues lip service in her promotional spiels for another few years, but even she fell silent years ago. Now, Tres-Or has a variety of voices championing Guigues's cause, and the company is seeking cash for a summer program.

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