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Diamond & Specialty Minerals Summary for March 19, 2020

2020-03-19 16:44 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a pleasing 90-61-151 as the markets ended the day higher. The TSX Venture Exchange reclaimed 14 points to 353 after setting another record low, dipping to 330 this morning. Diamond stocks have been hit hard, but so have miners of other commodities. Just four year ago, Largo Resources Ltd. (LGO) hovered near bankruptcy at 11 cents. It subsequently rode a surge in vanadium prices to a $4.66 high in late 2018. Since then it has been giving back the gains as vanadium prices retreat: Today, it rose four cents to 73 cents on 1.53 million shares.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) slumped six cents to 40 cents on 423,000 shares -- its 38.5-cent intraday low being just 1.5 cents above its 26-year low of 37 cents. There was a reason for the latest gloom, as the company said late Tuesday that its third diamond sale of 2020 has been postponed until further notice.

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