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Diamond & Specialty Minerals Summary for Aug. 21, 2019

2019-08-21 19:50 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a so-so 75-76-149 as the TSX Venture Exchange fell fractionally to 575. Polished diamond prices edged 0.1 per cent higher, but specialty -- battery, in other words -- metals prices continue to struggle. Vanadium oxide, well above $30 (U.S.) per pound last year, is now under $7 (U.S.) per pound. Cobalt, $43 (U.S.) per pound in early 2018, now sells for about $13 (U.S.) per pound.

Dr. Leon Daniels and Graham Warren's Pangolin Diamonds Corp. (PAN), down one cent to 3.5 cents on 480,000 shares, has new drill targets on the MSC portion of its Malatswae property in Botswana. The area spans about 1,000 hectares from which the company has now recovered 16 diamonds during soil sampling. The gems, which range from 0.425 millimetre to two millimetres in size, were recovered from four different sites within the MSC area, suggesting that they came from multiple diamondiferous kimberlite sources.

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