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Diamond & Specialty Minerals Summary for July 17, 2019

2019-07-17 17:28 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a mediocre 68-66-160 as the TSX Venture Exchange rose seven points to 587 and polished diamond prices inched lower. Robin Goad's Fortune Minerals Ltd. (FT) lost 1.5 cents to 8.5 cents on 2.32 million shares. There has been no news since early June, when the company reminded investors that an update of a 2014 feasibility study of the Nico cobalt project in the Northwest Territories was "nearing completion." Perhaps it is even nearer now.

Patrick Power's Arctic Star Exploration Corp. (ADD), unchanged at five cents on 270,000 shares, has discovered two new kimberlites on its Timantti property in east-central Finland. The new discoveries, named Plug and Karhu, are just west of the Vasa kimberlite dike discoveries made last year, and they are about two kilometres north of the three Wolf kimberlites, two of which, White and Black Wolf, were turned up by a previous explorer in 2005 and the third, Grey Wolf, was discovered by Arctic Star last year. The two new kimberlites were uncovered using an excavator, not a drill, much like the Vasa dikes.

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