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Diamond & Specialty Minerals Summary for June 10, 2019

2019-06-10 19:52 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a weak 58-80-162 as the TSX Venture Exchange fell two points to 594 and polished diamond prices edged higher. Ryan Kalt's Clean Commodities Corp. (CLE) closed unchanged at 2.5 cents on three million shares following a one-month halt. The halt began when the company proposed making a clean break with exploring for so-called clean commodities to become a cannabis grower. That plan fell through last week when its target, Pacific North Hemp Inc. was served with a notice of default by a creditor. Clean Commodities has now appointed a new vice-president of development with a pharmaceutical background, so the situation remains grim for the company's lithium, cobalt and uranium projects.

Practicability is as rare as diamonds at the Seahorse property of Leni Keough's Olivut Resources Ltd. (OLV). The company called off its 2018 summer field program on the property, north of Great Bear Lake, because "unseasonable, extremely poor weather conditions" made the flying of a geophysical survey impossible throughout most of the field program. Olivut, unchanged at 10 cents on 14,000 shares, has an option from Dr. Ray Davies's Talmora Diamond Inc. (TAI: $0.04) that allows it to earn a 50-per-cent interest in Seahorse, a key condition being that it spend $1.2-million on exploration by the summer of 2020.

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