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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for April 11, 2018

2018-04-11 21:19 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a ho-hum 80-89-125. The TSX Venture Exchange gained one point to 777 while polished diamond prices edged higher. Paul Brockington's sleepy Margaret Lake Diamonds Inc. (DIA) moved up one cent to 13 cents on 2.76 million shares. A one-million-share cross at 12 cents by an anonymous broker trying to hide himself accounted for nearly all the volume. The company is offering 10 million shares at 12 cents and 7.7 million flow-through shares at 13 cents in a $2.2-million placement.

Dermot Desmond's Mountain Province Diamonds Inc. (MPVD), up five cents to $3.20 on 133,000 shares, is poised to reel back in its spinoff sister, Mr. Desmond and Dr. Rory Moore's Kennady Diamonds Inc. (KDI: $3.02). Mountain Province's interim president and chief executive officer, David Whittle, said that 93 per cent of his shareholders who voted at a special meeting held this week approved the proposed reacquisition of Kennady. The support from minority shareholders -- those other than Mr. Desmond, who owns nearly 40 million of Mountain's 160 million shares -- was a still resounding 90 per cent.

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