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Diamond & Specialty Minerals Summary for Aug. 22, 2019

2019-08-22 19:12 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a weak 58-75-167 as the TSX Venture Exchange rose two points to 578 but polished diamond prices dropped 0.15 per cent. First Cobalt Corp. (FCC) has had no news in over a month but it continues to be a busy trader. Today it closed unchanged at 13 cents on 1.51 million shares. When it is talking, it is talking about refining cobalt in Northeastern Ontario and mining it in Idaho.

Chris Grove and David Hodge's Commerce Resources Corp. (CCE), down 6.5 cents to 34 cents on 113,000 shares, has rejigged the terms of its proposed financing. A week ago, it was offering 7.27 million shares at 5.5 cents. The following day Commerce rolled back its stock 1:10, so it is now offering 727,272 shares at 55 cents. Unfortunately, as often happens, the consolidation gave Commerce's stock more room to fall and it had been doing just that until Wednesday, when it inexplicably shot up 11.5 cents on 891,000 shares. Despite today's retreat, there is no plan yet to pare back the price of the placement, which is to supply $400,000 for the company's Ashram rare earth project in Northern Quebec.

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