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Diamond & Specialty Minerals Summary for April 25, 2024

2024-04-25 18:29 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a mediocre 77-90-143 as the TSX Venture Exchange added three points to 578. The gem sector has seen better days, but adaptable promoters are always willing to take a shot on a new story, even one in a depressed market. And so, Christopher Anderson -- always one to think beyond the box -- and his lagging Great Atlantic Resources Corp. (GR) are touting a gem spin on the South Quarry tungsten project in Newfoundland.

The company, glows Mr. Anderson, is planning to evaluate the emerald potential of the property, which it acquired a dozen years ago. Tungsten clearly has been the focus since then, although Great Atlantic currently describes South Quarry as a "high-priority tungsten property with lithium potential." (Apparently some rock samples showed modest amounts of lithium at a time when lithium prices were soaring.) Now, that potential has grown to include emeralds, although the marker minerals supporting the notion turned up 40 years ago.

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