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Diamond & Specialty Minerals Summary for Oct. 9, 2019

2019-10-09 18:43 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a slow 55-61-184 as the TSX Venture Exchange fell two points to 550 while polished diamond prices rose 0.4 per cent. Vladimir Iorich's Cobalt 27 Capital Corp. (KBLT) added 12 cents to $4.37 on 2.34 million shares. The stock has been a busy trader since Mr. Iorich's Pala Investments Ltd. made, and subsequently sweetened, a bid for the rest of the stock it does not already own. Pala is now offering $4 per share and Cobalt 27's shareholders also get a share of Nickel 28 Capital Corp., which has been valued at $1.92 per share.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM), down one-half cent to 20 cents on 894,000 shares, has wrapped up a 10-hole bulk sample of the Star kimberlite, part of the Fort a la Corne property in central Saskatchewan. The work, directed and paid for by Rio Tinto PLC under a four-phase option agreement, was completed using a big Bauer trench cutter supported by a large crane, which digs a vertical trench -- known as a big, deep hole to laymen -- at selected sites.

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