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Diamond & Specialty Minerals Summary for Nov. 18, 2021

2021-11-18 20:16 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a weak 78-107-115 as the TSX Venture Exchange slumped 24 points to 981. Cypress Development Corp. (CYP), a lithium explorer in Nevada, slid 13 cents to $2.17 on 1.68 million shares without benefit of news.

Andrew Lee Smith's True North Gems Inc. (TGX) traded an odd lot of six shares at nine cents, well below the minimum 500 shares required to qualify as a quotable trade. Several years have now passed since this non-gem of a gem lost its Aappaluttoq ruby project in Greenland but the strange event still leaves an ugly bruise on the company. At the end of September, True North had a working capital deficiency of nearly $5.7-million, most of it related to a $1.61-million loan guarantee that has now ballooned to over $5.1-million through accrued interest. (Interest is the term used, although the mob's "vigorish" might be just as apt since the interest rate is 2 per cent per month.)

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