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Diamond & Specialty Minerals Summary for Aug. 6, 2019

2019-08-06 18:37 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a poor 64-86-150 as the TSX Venture Exchange dipped one point to 594 and polished diamond prices edged lower. Ken MacNeill and George Read's Star Diamond Corp. (DIAM) lost 1.5 cents to 19.5 cents on 1.11 million shares. The company's stock trades for the same price it did two years ago, before Rio Tinto PLC agreed to spend up to $75-million for a 60-per-cent interest in the Fort a la Corne diamond project in central Saskatchewan. Rio Tinto is engaged in a major bulk sampling program at Star, although one would never know it by Star Diamond's stock chart.

Mark Chalmers's Energy Fuels Inc. (EFR) slid 20 cents to $2.11 on 942,000 shares. Faced with weak uranium and vanadium markets, Mr. Chalmers, president and chief executive officer says that the company has been "embarking on a bold initiative" to "make American uranium great again." Earlier this year, Energy Fuels petitioned the Trump Administration to investigate uranium imports into the U.S., and last month the government "took meaningful action" that has the potential to revive the American uranium sector.

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