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Diamonds Summary
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Diamond & Specialty Minerals Summary for June 12, 2018

2018-06-12 21:27 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a bleak 53-90-141. The TSX Venture Exchange fell six points to 762 while rough diamond prices remained flat last week. Guy Bourassa's Nemaska Lithium Inc. (NMX) lost two cents to 98 cents on 5.30 million shares. The company has been a busy trader since it sold 280 million new shares at $1 in May, completing the $1.1-billion financing of its proposed Whabouchi lithium mine in Quebec.

Chuck Fipke and Chad Ulansky's moribund Metalex Ventures Ltd. (MTX) closed unchanged at 3.5 cents on 1,000 shares. The company was Mr. Fipke's replacement for Dia Met Minerals Ltd, which he lost in a divorce settlement 20 years ago, and through the 2000s it was one of Canada's busiest diamond explorers. It has since fallen silent and Mr. Fipke's attentions have been diverted elsewhere. Metalex still holds several diamond projects, led by its U2 project in Northern Ontario, but its planned 10,000-tonne U2 bulk sample has been stalled for the past six years; first because of permitting delays and now because of a lack of cash.

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