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Diamond & Specialty Minerals Summary for July 26, 2019

2019-07-26 19:33 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 76-60-158 as the TSX Venture Exchange rose one point to 592 and polished diamond prices were flat. Garibaldi Resources Corp. (GGI) began July at $1.11 but it got as high as $2.25 this week without benefit of news from its Nickel Mountain nickel, cobalt and copper project in northwestern British Columbia. The company told the regulators in mid-July that there was nothing to cause the rally; nearly two weeks later the market got the message: Garibaldi, down 39 cents Thursday on 1.86 million shares Thursday, dropped another 42 cents to $1.36 on 1.87 million shares today.

Douglas Eaton and David Kelsch's GGL Resources Corp. (GGL: $0.08) has wrapped up sampling and mapping at its Zip project, 60 kilometres west of Lac de Gras. The field program, say Mr. Eaton, chief executive officer, and Mr. Kelsch, president, was a "collaborative effort" between the company and the Northwest Territories Geological Survey. (In other words, the government geologists put up most of the cash, while GGL gave them access to its property.) GGL also gave the government crews access to its camp, which has "an active Class A land use permit." (The permit is active, but the camp has seen little action over the past few years.)

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