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Diamond & Specialty Minerals Summary for March 27, 2020

2020-03-27 17:15 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a mediocre 68-76-158 as the markets turned bearish. The TSX Venture Exchange lost nine points to 388 while polished diamond prices fell 0.1 per cent and are down 3 per cent over the past month. Cuban copper and cobalt producer, Sherritt International Corp. (S) closed unchanged at 11 cents on 1.03 million shares. Two years ago, Sherritt traded for nearly $2. Its steady slide since then is the result of a slump in cobalt prices, weakening copper prices and the usual woes of operating in Cuba.

Graham Warren and Dr. Leon Daniels's Pangolin Diamonds Corp. (PAN), up one-half cent to 2.5 cents on 7,000 shares, is apparently plodding along with its AK10 diamond project in Botswana. The company acquired an option on the kimberlite pipe two years ago, but there has been little activity since then, other than the occasional promotional puffery from Dr. Daniels, president and chief executive officer.

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