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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Aug. 8, 2017

2017-08-08 21:19 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a rousing 68-57-136. The TSX Venture Exchange fell fractionally to 765 while polished diamond prices jumped 0.25 per cent. Ken MacNeill and George Read's Shore Gold Inc. (SGF) lost one-half cent to 26.5 cents on 358,000 shares. The company has filed its management circular ahead of its annual meeting, but without the pleasant surprise expected by shareholders.

Dermot Desmond and Dr. Rory Moore's Kennady Diamonds Inc. (KDI), up 16 cents to $3.36 on 26,000 shares, says it is encouraged with its continuing drilling at Kennady North, 10 kilometres northeast of the Gahcho Kue mine in the Northwest Territories. Dr. Moore, president and chief executive officer, was particularly enthused with three exploration holes at Faraday 2 that returned "robust kimberlite intercepts approaching 50 metres or greater" -- promoter-speak needed when one of the three hits measured just 48.7 metres and a fourth hole hit just 23.4 metres of kimberlite. Dr. Moore called the three longer hits at Faraday 2 "significant and consistent kimberlite intercepts" that suggest Faraday 2 is maintaining a constant depth and significant volume as it tracks west-northwest away from Faraday Lake. This, he says, is the optimum orientation for Faraday 2 in a mining scenario.

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