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Diamond & Specialty Minerals Summary for July 16, 2019

2019-07-16 19:24 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a 68-68-158 draw as the TSX Venture Exchange rose one point to 580 and polished diamond prices inched lower. Rough diamond prices continue to sag, dropping 0.3 per cent in the last week. Prices have fallen nearly 9 per cent over the past year. Stornoway Diamond Corp. (SWY), which could certainly -- urgently -- use a rally in rough prices, closed unchanged at 2.5 cents on 3.73 million shares.

James Bruchs's Tsodilo Resources Inc. (TSD), up 1.5 cents to 14.5 cent on 50,000 shares when it last traded on Monday, is doggedly pressing ahead with its BK16 kimberlite project in Botswana. The company is planning another bulk sample of BK16, this time several times larger than the 2,000-tonne test it acquired by large-diameter drilling in 2017 and spent much of last year processing. Mr. Bruchs, chairman and chief executive officer, says that this next phase of sampling is the "next step in the development of this exciting prospect," adding that it represents a major step towards mining this kimberlite and developing a revenue generator for the company and jobs and revenue for the citizens of Botswana.

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