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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Nov. 6, 2018

2018-11-06 18:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was an upbeat 86-67-137. The TSX Venture Exchange rose six points to a beastly 666 while polished diamond prices edged lower. Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) lost one cent to $2.15 on 198,000 shares. The company will reveal its third quarter results early next week.

Chuck Fipke and Chad Ulansky's moribund diamond explorer, Metalex Ventures Ltd. (MTX), closed unchanged at 2.5 cents on 10,000 shares. A banner across the company's website proclaims that its "development projects expand around the globe," urging investors to click their way inside to "see what we have discovered." Unfortunately, the answer over the company's 16-year life has been: not much. Accordingly, the company's stock price is far off its 2003 high of $5.60, a 99.96-per-cent decline that not even a 1:10 share consolidation in 2009 could mask for long. The company is still promising work on its global adventures, but it is increasingly difficult to distinguish plans from boilerplate.

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