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Diamond & Specialty Minerals Summary for July 28, 2022

2022-07-28 19:44 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a cheerful 121-75-114 as the TSX Venture Exchange jumped 15 points to 635 while polished diamond prices fell 0.1 per cent. Peter Dasler and Cory Belyk's Canalaska Uranium Ltd. (CVV) closed unchanged at 51 cents on 349,000 shares.

Canalaska is busy -- as busy as it can be with a modest treasury -- exploring for uranium in the Athabasca basin of Northern Saskatchewan. That leaves several of its projects starving for support, or as Canalaska puts it "seeking [a] venture partner." Topping that list of "other opportunities" is the big West Athabasca Kimberlite project, just south of Lake Athabasca in northwestern Saskatchewan.

"Diamonds?" a newcomer might ask, but in the spring of 2016, Canalaska's stock hit a highwater mark following unexpected news that the company and De Beers Canada had entered an option arrangement, through which De Beers would be drilling 11 kimberlite targets that were geophysically comparable with those it tested in Northern Ontario, work that led to the discovery and development of Victor, Ontario's only diamond mine.

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