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Diamond & Specialty Minerals Summary for March 30, 2020

2020-03-30 16:37 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a ho-hum 66-77-159. The senior markets managed a tentative upward bounce but the TSX Venture Exchange fell two points to 386. Polished diamond prices managed a modest 0.1-per-cent gain, following a month in which they lost over 3 per cent as a result of dwindling demand in the face of the COVID-19 crisis. Dermot Desmond's Mountain Province Diamonds Inc. (MPVD) took it on the chin again, hitting a 25-year low of 31 cents before ending the day down 3.5 cents to 35.5 cents on 223,000 shares.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM) closed unchanged at 26 cents on 125,000 shares. The wait goes on for a statement of defense from Rio Tinto Exploration Canada (RTEC), the company's estranged co-venturer on the FalCon project in central Saskatchewan. In the meantime, Star Diamond broke its self-enforced silence on the legal dispute late last week, if only to roll out its annual financial report.

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