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Diamond & Specialty Minerals Summary for Sept. 19, 2023

2023-09-19 20:53 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a bleak 52-115-143 as the TSX Venture Exchange fell nine points to 581. Chuck Fipke and Chad Ulansky's Metalex Ventures Ltd. (MTX) closed unchanged at two cents on 10,000 shares. Metalex has been focused on its James Bay project -- properties dotting a large expanse of north-central Quebec -- as it chases a variety of minerals. The most active area this year has been the A5 block, where the company launched, suspended and then resumed a drill program targeting a potential source of the anomalous counts of ilmenite grains that turned up in till sampling.

Late last month, Mr. Ulansky, president and chief executive officer, and Mr. Fipke, chairman and major shareholder, said that the wildfire-delayed drilling was expected to be completed during the summer "as conditions allow." (The good news is that conditions have been far more consenting than they were in early June, when the wildfires began ravaging wide areas of Quebec's forests, forcing travel bans and halts to many an exploration program.)

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