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Diamond & Specialty Minerals Summary for Aug. 16, 2019

2019-08-16 19:31 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 71-60-169 as the TSX Venture Exchange rose one point to 570 while polished diamond prices lost ground. Rod Irwin's Stans Energy Corp. (HRE) jumped 2.5 cents to 8.5 cents on 1.33 million shares. There has been no news from the company in a month, and arguably nothing important since May, when a court arbitrator told it that it should have news of the company's case against Kyrgyzstan "no later than in the course of July, 2019." Of course, courts move slowly.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) took another blow to the jaw this week with word that its stock has fallen below the $1 (U.S.) threshold for continued listing on the Nasdaq exchange. Mountain Province traded as high as $5.52 (U.S.) on Nasdaq three years ago, when it was ramping up production at its 49-per-cent-owned Gahcho Kue diamond mine in the Northwest Territories, but it has been a long downhill run from there.

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