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Diamond & Specialty Minerals Summary for Sept. 12, 2019

2019-09-12 19:04 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a positive 77-67-156 as the TSX Venture Exchange rose three points to 589 and polished diamond prices inched lower. Guy Bourassa's Nemaska Lithium Inc. (NMX) rose one-half cent to 30.5 cents on 1.51 million shares. There has been no news since late July, when the company said that it hoped to resume construction of its Whabouchi lithium mine in November. It had been suspended earlier this year because of cost overruns and the need for new financing.

Lawrence Page's New Nadina Explorations Ltd. (NNA), one of the oldest surviving names in Canada's diamond hunt (the company that is, not Mr. Page, though he is no spring chicken) is headed for the Howe Street equivalent of a witness protection program. On Friday, it becomes Equity Metals Corp. Mr. Page, chairman, says that the company's "recent reconstitution of the board of directors" -- a major management shuffle in fact -- and "the initial equity raise" ($500,000 of eight-cent shares) -- and the new name will allow it to "begin developing its precious metal and diamond properties."

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