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Diamond & Specialty Minerals Summary for Aug. 15, 2019

2019-08-15 19:37 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a horrid 57-97-146 as the TSX Venture Exchange slipped eight points to 568, while polished diamond prices edged higher. Dean Taylor's Diamcor Mining Inc. (DMI) dropped one cent to 8.5 cents on 199,000 shares. The company quietly continues trial mining at its Krone-Endora at Venetia project in South Africa, but the slumping rough diamond market has investors in a grumpy mood. Cobalt prices are struggling too, and International Cobalt Corp. (CO) lost one-half cent to 1.5 cents on 1.96 million shares.

Patrick Godin's Stornoway Diamond Corp. (SWY) dropped one-half cent to two cents on 9.15 million shares. The company revealed after Wednesday's close that it lost $346-million during its second quarter, a bit more than it had lost through all of 2018. Most of the latest loss was notional in that the company took a $442.7-million impairment charge against its Renard diamond mine, offset partially by a $135.4-million reduction in contract liabilities.

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