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Diamond & Specialty Minerals Summary for Nov. 17, 2021

2021-11-17 20:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a 95-95-110 draw as the TSX Venture Exchange lost three points to 1,005 and polished diamond prices inched upward. Shares of Vision Lithium Inc. (VLI) continue to trade frantically, but without support of news. The stock lost 2.5 cents to 24.5 cents on 11.54 million shares today and over the past four days, 70 million shares have traded. About 40 million shares traded in a three-day period in mid-October, a spurt that kicked off the frenzy. The most recent news came in August, with word of drilling at Dome Lemieux in Quebec.

Rough diamond prices are within 10 per cent of their all-time highs, which is good, but not so good is that those record highs occurred a decade ago. Nevertheless, diamond miners are experiencing the best market for their production in several years, which is boding well for Stornoway Diamond Corp. and its Renard mine in the Otish Mountains of north-central Quebec.

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