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Diamond & Specialty Minerals Summary for July 29, 2019

2019-07-29 19:17 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a disappointing 63-90-141 as the TSX Venture Exchange fell one point to 591. Rough diamond prices edged higher this week, the first upward movement in over three months. Prices have fallen 4 per cent in that time, adding to the gloom surrounding Canadian diamond miners. Stornoway Diamond Corp. (SWY), $1.34 in 2016, closed unchanged at three cents on 1.04 million shares, while Mountain Province Diamonds Inc. (MPVD), $7.18 three years ago, dipped two cents to $1.25 on 28,000 shares. Both companies are expected to issue their second quarter results shortly.

George Glasier's Western Uranium and Vanadium Corp. (WUC), down eight cents to 85 cents on 37,000 shares, has opened four of the five mines on the Sunday complex in western Colorado. (No, the company did not hold a series of ribbon-cutting ceremonies; it merely gained entry to the four old mines to reassess their vanadium potential.) The five old interconnected underground mines were last worked in the late 2000s, closing when the uranium sector followed the Fukushima reactor in Japan in melting down. Western acquired Sunday in 2014, but it has stepped up its promotion only in the past year.

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