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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Aug. 8, 2018

2018-08-08 20:08 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a weak 51-91-135. The TSX Venture Exchange fell two points to 698 while polished diamond prices edged higher. Arno Brand's Gratomic Inc. (GRAT) added one-half cent to 13 cents on 1.03 million shares. The company is seeking $2.5-million to advance its graphite and graphene promotions.

Matthew Wood's Five Star Diamonds Ltd. (STAR), down one-half cent to 11 cents on 17,000 shares, is offering $7.5-million of convertible debentures. Mr. Wood, president and chief executive officer, says that his company has been pursuing a twin strategy of seeking financing solutions for the development of its Catalao diamond project in Brazil while it continues to drill its Maravilha diamond prospect, also in Brazil. (It could be an effective strategy, if the well-heeled twin succeeds. Otherwise, the spendthrift sibling could drive the company deep into the red. Indeed, Five Star's current accounts were over $400,000 in the red at the end of March; fortunately, its Maravilha driller was working for stock, not cash.)

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