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Diamond & Specialty Minerals Summary for Nov. 7, 2022

2022-11-07 20:39 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a positive 99-89-122 as the TSX Venture Exchange fell fractionally to 593.53. Critical Elements Lithium Corp. (CRE) rose 10 cents to $2.29 on 1.48 million shares. The company continues inching along -- forward more often than not -- with its Rose lithium project in Quebec.

Patrick Power and Buddy Doyle's Arctic Star Diamond Corp. (ADD), a 13-center in spring as investors eagerly awaited new diamond counts from Diagras, rose one-half cent to five cents on 724,000 shares today as the wait for those results drags on. On Howe Street, no news often means buried bad news, but in Arctic Star's case, the never-ending delay is just that -- a never-ending wait that has Mr. Power, president and chief executive officer, as frustrated as his backers.

In mid-September, Arctic Star did get counts from a 143-kilogram batch of kimberlite drilled up from its Arbutus kimberlite, a new discovery this May on Diagras, but it has yet to see hide nor hair of any diamonds from the 1.9 tonnes of material sent for processing from spring delineation drilling at the big Sequoia pipe. When the Arbutus counts arrived, Mr. Power said he expected the Sequoia counts in the "next weeks" -- a vagueness clearly warranted, as the calendar drags on through next months toward next year.

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