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Diamond & Specialty Minerals Summary for Aug. 13, 2019

2019-08-13 20:19 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a horrid 43-90-167 as the TSX Venture Exchange fell seven points. Rough diamond prices resumed their slide this week, dropping 0.33 per cent according to diamantaire Paul Zimnisky. Rough prices are down nearly 10 per cent over the past year and are off 16 per cent over the past five years. This, of course, is contrary to what would-be diamond miners had been expecting when they built healthy price escalators into their dream sheets over the past decade.

Bruce Counts's Lithoquest Diamonds Inc. (LDI: $0.09) has at least one drill target lined up for a new drill program at the North Kimberley diamond project, near the northern coast of Western Australia. The new target, identified as No. 1826, has been deemed a high-priority anomaly identified from the company's preliminary field program that recently concluded. Lithoquest says that drilling should start in early September.

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