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Diamond & Specialty Minerals Summary for Sept. 6, 2019

2019-09-06 20:01 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 71-61-168 as the TSX Venture Exchange rose two points to 588 while polished diamond prices edged higher. Stornoway Diamond Corp. (SWY) doubled today. Just three years ago that would have taken momentous news, but today it was merely a couple of upticks: The stock rose one cent to two cents on 36.15 million shares. Mountain Province Diamonds Inc. (MPVD) closed down one cent to $1 on 171,000 shares, but not before it set a new nine-year low of just 97 cents. Both companies are struggling with the mines they opened in 2016, but Stornoway's situation is bleak.

Don Bubar's Avalon Advanced Materials Inc. (AVL), unchanged at 4.5 cents on 1.52 million shares, will be presenting its story to investors at the Fall Investor Summit, to be held in New York in mid-September. Mr. Bubar, president and chief executive officer, will be attending the show to "discuss Avalon's progress" with over 1,000 institutional and retail investors. (If he limits his talk to progress, it will be a short speech, as Avalon has advanced its three main projects glacially, if at all, over the past few years.)

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