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Diamond & Specialty Minerals Summary for Aug. 20, 2019

2019-08-20 19:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a ho-hum 65-63-172 as the TSX Venture Exchange added six points to 576. Polished diamond prices rose 0.15 per cent, although it takes a fertile imagination to see a hockey stick developing at the end of what is otherwise a dismal one-year chart.

The blip had no impact on Mountain Province Diamonds Inc. (MPVD) today, as it dropped six cents to $1.13 on 199,000 shares, keeping it just above its multiyear low of $1.07, set in May. The stock was as high as $7.18 three years ago, when production began at its Gahcho Kue mine in the Northwest Territories, and it traded to $9.75 in early 1996, based on early enthusiasm for the discovery of the first Gahcho Kue pipe. (On Howe Street, early-bird buyers rarely get the worm -- and when they do, it is usually unappetizing.)

James Bruchs's Tsodilo Resources Ltd. (TSD), up two cents to 14 cents on 3.14 million shares, has received a two-year renewal of its exploration licence for the BK-16 kimberlite project in Botswana. The permit was set to expire at the end of September; it now runs to the end of September, 2021. Extension in hand, Mr. Bruchs president and chief executive officer, says that the emphasis over the next two years will be the phase 2 surface bulk sampling program that Tsodilo has been musing about for the past year.

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