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Diamond & Specialty Minerals Summary for July 27, 2022

2022-07-27 19:35 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was an upbeat 117-68-125 as the TSX Venture Exchange jumped 14 points to 619.

An area once nearly as active with diamond exploration as Lac de Gras, and for a few years the home of Nunavut's only diamond mine, the North Slave district still sports a few hardy diamond explorers -- although with projects that rank well down their list of prospects. Arguably the most active explorer in the area is Grenville Thomas and Ken Armstrong's North Arrow Minerals Inc. (NAR), which acquired the CSI property in early 2021 and has spent about $100,000 poking about the area just west of the old Jericho mine.

North Arrow, which dropped one cent to 7.5 cents on 31,000 shares Monday, has done well over the past decade by picking up hand-me-down prospects from other companies that deemed them expendable or worse. At Naujaat, in central Nunavut, the company has turned a big, uneconomic kimberlite into a promotable project based on just a subset of its diamond population. As well, its Pikoo project in northern Saskatchewan is a new-to-it acquisition previously deemed a throwaway by Stornoway Diamond Corp.

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