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Diamonds Summary
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Diamond & Specialty Minerals Summary for May 11, 2018

2018-05-11 21:14 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a positive 80-65-139. The TSX Venture Exchange gained eight points to 782 while polished diamond prices were flat. Eric Friedland and Tom Peregoodoff's Peregrine Diamonds Ltd. (PGD) closed unchanged at 15 cents on 452,000 shares. There is still no word about what the company has planned for its Chidliak project ion Baffin Island this year.

Dr. Stewart Blusson's thin trading Archon Minerals Ltd. (ACS), unchanged at $1.09 on 200 shares, may be getting its wish regarding the Buffer claims at Ekati. In its latest quarterly report, Dr. Blusson cheered the intentions of Ekati's new owner, Dennis Washington's private Washington Group, to possibly focus on smaller, easier to develop kimberlite targets, rather than what Dr. Blusson called the much discussed 13-hectare Jay pipe that could take years to permit and start mining. There no doubt that permitting and construction of Jay will take much effort over several years. That is why Dominion Diamond Corp, then run by the late Robert Gannicott, had been pushing hard to get Jay into production before all the kimberlite at Ekati is depleted in the early 2020s.

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