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by Will Purcell
The diamond and specialty minerals stocks box score for Monday was a weak 66-89-129. The TSX Venture Exchange rose seven points to 790 while rough diamond prices inched higher over the past week. Ryan Kalt's Clean Commodities Corp. (CLE) continues to trade actively, dropping one-half cent to six cents on 1.20 million shares. There is no news to account for the nearly 15 million shares that traded in the past week.
Shareholders of Dermot Desmond and David Whittle's Mountain Province Diamonds Inc. (MPVD), which gained seven cents to $3.31 on 111,000 shares, are looking beyond a so-so first quarter to the short-term prospect of a first dividend and the longer-term prospect of a tweaked arrangement with De Beers Canada, its co-venturer at the Gahcho Kue mine in the Northwest Territories. Both prospects could bode well for the company's share price, if the coming results meet the market's (often inflated) desires.
Mountain Province managed a first quarter profit of only $67,000, in part because it held just two rough diamond sales during the period. Even so, its operating income from the mine for the first three months of 2018 was a healthy $20-million. (Nearly half of that went poof when the company paid the interest on its debt; the other half disappeared through accounting for foreign exchange losses.)
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