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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for March 8, 2018

2018-03-08 20:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a ho-hum 82-85-123. The TSX Venture Exchange fell two points to 829 while rough diamond prices were flat. Chris Taylor's Dunnedin Ventures Inc. (DVI) dropped two cents to 30.5 cents on 649,000 shares. The company plans to drill new kimberlite pipe targets on its Kahuna diamond project this spring.

Terry Tucker and Samer Khalaf's Tango Mining Ltd. (TGV), up one-half cent to 3.5 cents on 149,000 shares, has expanded its 75-per-cent-owned Middlepits alluvial diamond project in Botswana by acquiring the 230-hectare PL58 licence. (Middlepits, in the far southwestern corner of Botswana, currently spans 87,600 hectares, but it is currently being renewed for another two-year term. Once completed, the renewed licence will cover just 42,900 hectares.) The PL58 acquisition is intriguing as it hosts a kimberlite, adding a new twist to the project.

The kimberlite, called Kolonkwaneng, was discovered in 1977 by De Beers. It appears elliptical in shape, about 225 metres long and 125 metres wide, and work at the time revealed that it was diamondiferous. Mr. Khalaf, chief executive officer, and Mr. Tucker, executive chairman, say that bulk sampling by De Beers produced microdiamonds and heavy indicator minerals. (Africans usually deem what Canadians call bulk sampling to be trial mining; one hopes that what they call bulk sampling involves testing just a bit of kimberlite for microdiamonds.) Either way, De Beers did not see enough potential to keep working Kolonkwaneng.

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