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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for July 13, 2017

2017-07-13 20:52 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a ho-hum 56-67-134. The TSX Venture Exchange lost five points to 752 while polished diamond prices inched upward. Keith Anderson's Far Resources Ltd. (FAR) gained 1.5 cents to 13.5 cents on 1.75 million shares. The company has sent a crew to its Zoro lithium project in Northern Manitoba to provide "guidance for a planned drill program."

Matt Manson's Stornoway Diamond Corp. (SWY), unchanged at 80 cents on 627,000 shares, has achieved full production at its Renard diamond mine in north-central Quebec and is generating strong operating cash flow, but it is still wrestling with some teething problems that are keeping it from profitability. The main problem, according to Mr. Manson, president and chief executive officer, is the higher than expected amount of diamond breakage in the processing plant. Breakage is a concern in all diamond mines, but the extent of the problem at Renard has been unacceptably high.

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