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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for July 10, 2018

2018-07-10 20:15 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a mediocre 66-77-134. The TSX Venture Exchange rose fractionally to 740 while polished diamond prices fell 0.1 per cent. Nemaska Lithium Inc. (NMX) continued to trade briskly, dropping one cent to 84 cents on 2.75 million shares. The company is planning a billion-dollar lithium mine in Quebec.

Matt Manson's Stornoway Diamond Corp.< (SWY), down 3.5 cents to 45.5 cents on 575,000 shares, had a tough second quarter at its Renard mine in Quebec. (The results were apparently not as bad as feared by the market, initially at least: Stornoway jumped 5.5 cents to 49.5 cents on 658,000 shares Monday on the news.) Stornoway recovered 223,351 carats of diamonds from 562,060 tonnes of kimberlite, just 40 carats per hundred tonnes. In the first quarter, the company extracted 286,000 carats from 562,500 tonnes of kimberlite, or 51 carats per hundred tonnes. A year ago, it recovered 417,362 carats from 512,005 tonnes, an average of 82 carats per hundred tonnes.

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