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Diamond & Specialty Minerals Summary for March 18, 2020

2020-03-18 17:28 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a depressing 44-115-143 as the markets went lower again today. The TSX Venture Exchange flopped another 35 points to 338, a new record low. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD) dropped nine cents to 46 cents on 310,000 shares and its 45-cent intraday low was last seen in 2001, in the early days of exploration at Gahcho Kue. Lukas Lundin's Lucara Diamond Corp. (LUC) slumped 4.5 cents to 41.5 cents on 564,000 shares, a low last seen in 2009, before the company acquired what is now its prolific Karowe mine in Botswana.

Dev Shetty's Fura Gems Inc. (FURA), unchanged at eight cents on 2,000 shares, is borrowing up to $28.6-million (U.S.) to support its Coscuez emerald project in Colombia and its ruby prospects in Mozambique and Australia. Mr. Shetty, president and chief executive officer, says that some of the borrowed cash will also go to working capital, paying down other debts.

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