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Diamond & Specialty Minerals Summary for March 1, 2023

2023-03-01 20:28 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a positive 107-74-129 as the TSX Venture Exchange rose four points to 634. Grenville Thomas and Ken Armstrong's North Arrow Minerals Inc. (NAR) added one-half cent to nine cents on 197,000 shares.

North Arrow is focused elsewhere -- Great Slave lithium and Saskatchewan diamonds come to mind -- but late last week its attention briefly snapped back to Naujaat in Nunavut, where Mr. Thomas, chairman, and Mr. Armstrong, president and chief executive officer, hope there are enough orange-yellow fancy diamonds to make the big but low-grade and otherwise low-value Q1-4 kimberlite economic.

North Arrow has just completed cutting and polishing of two of the fancy gems recovered last year from a 2,000-tonne bulk sample of the pipe. The company had the work completed by Peter Ravenscroft's Burgundy Diamond Mines Ltd. -- no surprise since Burgundy is a 40-per-cent co-venturer at Naujaat and could become a 60-per-cent owner if it pays for a 10,000-tonne test in a year or two.

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