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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Jan. 12, 2018

2018-01-12 20:28 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a cheerful 93-68-117. The TSX Venture Exchange fell 11 points to 878 while polished diamond prices inched upward. Lukas Lundin and Dr. William Lamb's Lucara Diamond Corp. (LUC) dropped five cents to $2.59 on 684,000 shares. The company has been quiet of late, but its Karowe mine in Botswana continues to do well.

Matt Manson's Stornoway Diamond Corp. (SWY), down three cents to 62 cents on one million shares, is predicting a better 2018 than it had in its first full year of operations last year at its Renard diamond mine in the Otish Mountains district of Northern Quebec. The company expects to produce 1.6 million carats this year from 2.5 million tonnes of kimberlite, or about 0.65 carat per tonne. In 2017, Renard produced 1.64 million carats from 1.96 million tonnes of kimberlite, averaging 0.84 carat per tonne. The lower grade is the result of Stornoway adding production from an open-pit mine at Renard-65. Last year, the company's kimberlite came predominantly from higher-grade open-pit mines at Renard-2 and Renard-3, the top two pipes at the mine.

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