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Diamond & Specialty Minerals Summary for Aug. 11, 2022

2022-08-11 19:33 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a mediocre 99-95-116 as the TSX Venture Exchange rose three points to 673 while polished diamond prices fell 0.15 per cent. Star Diamond Corp. (DIAM) was unchanged at 12.5 cents on 273,000 shares. Star's stock has averaged 13.7 cents on 30 million shares since late June, its worst six-week stretch since it averaged 13.3 cents on 7.6 million shares in the great tax-loss sell-off at the end of 2013.

Chuck Fipke and Chad Ulansky's Metalex Ventures Ltd. (MTX) jumped two cents to 7.5 cents on 659,000 shares. The company, just past its 20th birthday, claims a continuing focus on diamonds, but its only active play, in the James Bay district of Quebec, has lately morphed into more of a scandium and gold prospect.

Indeed, the Kelowna-based Mr. Fipke has been drifting away from diamonds. His Cantex Mine Development Corp. (CD), decidedly more active than Metalex for the past several years, is currently enthusing about a polymetallic massive sulphides project at North Rackla in Yukon. (Cantex began life as a diamond explorer in Greenland, over two decades ago.)

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