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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for May 16, 2018

2018-05-16 19:05 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a negative 69-78-137. The TSX Venture Exchange rose fractionally to 781 while polished diamond prices remained flat. Bruce Counts's Lithoquest Diamonds Inc. (LDI) dropped two cents to 50 cents on 100,000 shares. The company has been silent for over six weeks, but it is expected to start drilling at its North Kimberley diamond project in Australia soon.

Dermot Desmond and Jonathan Comerford's Mountain Province Diamonds Inc. (MPVD), which gained one cent to $3.48 on 273,000 shares, has picked Stuart Brown to be its new president and chief executive officer. He replaces Patrick Evans, who left the company a year ago by "mutual decision" -- a tactful way to describe the "you're fired; no, I quit" departure dance. While Mountain Province hunted for a replacement, David Whittle, an independent director, had been doing the job on an interim basis. He now returns to his previous role, which he has held since 1997. (Only Carl Verley, a director who predates the company's 24-year diamond focus, has been with Mountain Province longer. He arrived in 1986.)

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