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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Jan. 10, 2018

2018-01-10 18:41 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a so-so 82-81-115. The TSX Venture Exchange fell 13 points to 910 while polished diamond prices were flat. Boris Ziger's Matica Enterprises Inc. (MMJ) closed unchanged at 74 cents on 10.16 million shares. Yesterday it jumped nine cents to 74 cents on 24.2 million shares. The company, a five-cent listing until it suddenly puffed up on medical marijuana, still has royalties on lithium prospects and title to its Grumpy Lizard graphite project in Nevada. The lizard denizens have little to be grumpy about, as Matica's crews are not currently a bother. Mr. Ziger's backers should be in a pleasant mood as well; their stock is up nine-fold in the past two months.

Andrew Lee Smith and Glen MacDonald's True North Gems Inc. (TGX) gained one-half cent to one cent on 3.02 million shares. True North, a thin trader after the company lost its Aappaluttoq ruby and sapphire mine in Greenland in the summer of 2016, has become more active, with over 51 million shares trading in the past eight sessions. The company intends to roll back its 307 million shares on a 1:10 basis. The move, says Mr. MacDonald, director, and Mr. Smith, interim chief executive officer, will "enhance the investmentability of the company's equity." While they expanded, but not necessarily enhanced, the English language, their rollback may do little to attract investors unless they suddenly see value in the long-dormant Beluga gem project on Baffin Island -- or unless Mr. Smith and his crew come up with something new to attract interest.

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