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

2018-11-08 19:21 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a ho-hum 75-83-132. The TSX Venture Exchange lost four points to 667 while polished diamond prices rose 0.2 per cent. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD) struggled to stay above the $2 mark but failed, ending the day off 10 cents to $1.99 on 574,000 shares. The company will have its third quarter results on Monday.

Matt Manson's Stornoway Diamond Corp. (SWY) closed unchanged at 24.5 cents on 437,000 shares. The company, near its all-time low of 24 cents, is looking to boost diamond production from its Renard mine in Northern Quebec through some changes to its mine plan starting next year. To do so, it spent 2018 drilling and sampling two key kimberlites, Renard 3 and Renard 4, to develop enough reserves in the appropriate areas to support open-pit mining at Renard 4 and perhaps Renard 9, as well as underground mining at Renard 3.

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