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Diamond & Specialty Minerals Summary for Sept. 17, 2019

2019-09-17 19:41 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a bleak 39-82-179 as the TSX Venture Exchange dipped one point to 586. Rough diamond prices had another decent week -- "good" being an overly optimistic description at this stage, when any gain could be just another dead-cat bounce. Prices rose 0.25 per cent and are up 0.75 per cent in the past month but are still down 8 per cent from last summer and over 25 per cent in the past eight years.

Patrick Power's Arctic Star Exploration Corp. (ADD), unchanged at 2.5 cents on 1.42 million shares, has provided a hint about when the proposed drilling of kimberlite targets at the Stein project, 85 kilometres northwest of Taloyoak in central Nunavut, might occur. Arctic Star acquired the property four years ago as a part of its "strategic analysis of exploration data in the public domain" -- a time when the company scooped up several old diamond plays that had an unspectacular past, and as it has gone so far, a bleak present and future.

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