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Diamonds Summary
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Diamond & Specialty Minerals Summary for July 14, 2017

2017-07-14 21:09 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a so-so 59-64-134. The TSX Venture Exchange gained four points to 757 while polished diamond prices were flat. Dominion Diamond Corp. (DDC) jumped 69 cents to $16.91 on 228,000 shares before rumours of an impending buyout tripped a regulatory circuit breaker. The company promptly reset the switch, saying it continues to talk, but has nothing new to say.

Patrick Power's Arctic Star Exploration Corp. (ADD) dropped another 4.5 cents to 23 cents on 1.46 million shares. The stock opened strong yesterday, hitting a 34.5 cent high, but ended the day down 2.5 cents to 27.5 cents on 2.94 million shares on word that the company is acquiring another diamond play. The new project, covers a 243-hectare permit in northern Finland hosting two old kimberlite discoveries: Black Wolf and White Wolf. (Arctic Star does not mention their size, so they probably are small.) Mr. Doyle, vice-president of exploration, says that the company "views this new project as a unique opportunity to advance a new diamond district." It believes the two pipes are part of a cluster of yet to be discovered pipes, which is why Arctic Star has applied for a 95,700-hectare exploration reservation centred on the two pipes. The combined project will be called Timantti.

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