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Diamonds Summary
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Diamond & Specialty Minerals Summary for Dec. 5, 2017

2017-12-05 19:41 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 68-99-111. The TSX Venture Exchange fell three points to 784 while polished diamond prices were flat. Bruce Counts's Lithoquest Diamonds Inc. (LDI) dropped 10 cents to 37 cents on 35,000 shares. There has been no news since the company, previously Consolidated Westview Resource Corp., went public late last month with a reverse takeover of the private Lithoquest.

Lukas Lundin and Dr. William Lamb's Lucara Diamond Corp. (LUC), down five cents to $2.43 on 1.01 million shares, expects a profitable 2018 at its Karowe mine in Botswana. The company expects revenue from sales of Karowe diamonds will range from $170-million (U.S.) to $200-million (U.S.) next year. That is less than the $200-million (U.S.) to $220-million (U.S.) that the company had predicted a year ago for 2017. (The 2017 forecast was recently pared back to $165-million (U.S.) to $175-million (U.S.) because of reduced production, which Lucara attributes to "a longer-than-anticipated ramp-up" of mining by its new contractor.)

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