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Diamond & Specialty Minerals Summary for Oct. 18, 2019

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

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a positive 75-61-164 as the TSX Venture Exchange fell 1.64 points to 542.43. Don Bubar's Avalon Advanced Materials Inc. (AVL) slumbered on, but its stock was active, gaining one cent to five cents on 872,000 shares. The company seeks rare earths in Canada's north, tin in Nova Scotia and lithium in Northwestern Ontario.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) closed unchanged at $1.38 on 54,000 shares. The company revealed its operating numbers for the third quarter ending Sept. 30, 2019, after Thursday's close. Its Gahcho Kue mine in the Northwest Territories, in which it holds a 49-per-cent interest, mined one million tonnes of kimberlite in the third quarter of 2019, down from 1.16 million tonnes in the third quarter of 2018. Worse, in the third quarter of 2019 the average grade dropped to 1.72 carats per tonne, down from 2.4 carats per tonne in the third quarter of 2018, and as a result the carat haul dropped to 1.563 million carats in the third quarter of 2019 from 1.82 million in the third quarter of 2018.

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