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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Sept. 3, 2019

2019-09-03 19:50 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a positive 77-73-150 as the TSX Venture Exchange rose two points to 592 while polished diamond prices slid 0.1 per cent. The dash to the pennies remains a close race. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD), over $7 three years ago, gained one cent to $1.05 on 144,000 shares, while Lukas Lundin's Lucara Diamond Corp. (LUC), $4.39 in mid-2016, added one cent to $1.05 on 151,000 shares. Lucara touched its low of $1.04 today; Mountain Province set a new one, dipping to $1.01 in early trading.

The status of the Catalao diamond project in Brazil is still murky, but the fate of most of the other Brazilian gem projects held by Matthew Wood and Ali Haji's Five Star Diamonds Inc. (STAR: $0.07) is clear. Goias-based Catalao and its potentially economic kimberlites has been worked and promoted for decades. Five Star has been doing a little work and a lot of promoting since it acquired Catalao and about two dozen other Brazilian diamond properties as a qualifying transaction in 2017. Five Star now wants to become a "royalty and stream company," so it plans to spin off its Brazilian diamond projects.

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