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Diamond & Specialty Minerals Summary for July 30 2019

2019-07-30 18:17 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a positive 71-66-157 as the TSX Venture Exchange rose two points to 593, while polished diamond prices fell 0.1 per cent. Chuck Fipke and Chad Ulansky's stalled Ontario diamond promotion, Metalex Ventures Ltd. (MTX) continues to tread water. Today it added one-half cent to 3.5 cents on 15,000 shares. Metalex has been touting its U2 kimberlite project at Kyle Lake, 60 kilometres west of Victor, since before De Beers mined its first Victor diamond in 2008. Victor is now closed, and Metalex is no farther ahead at U2. In fact, it has fallen behind as without Victor, the logistics of working the area are more complicated and costly than ever.

David Kelsch and Douglas Eaton's GGL Resources Corp. (GGL), unchanged at 7.5 cents on 1,000 shares, hit the news again this week, this time regarding its plan to explore at Stein this summer. Stein is on Boothia peninsula, about 75 kilometres northwest of Taloyoak, and more importantly, just 85 kilometres from tidewater. It has been explored intermittently by a variety of Howe Street juniors since the mid-2000s, without much success.

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