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Diamond & Specialty Minerals Summary for April 2, 2020

2020-04-02 18:05 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was an upbeat 94-53-155 as the TSX Venture Exchange added five points to 386. Polished diamond prices were flat today, although these days, the daily reports inspire about as much confidence as the COVID-19 counts coming out of China. Mountain Province Diamonds Inc. (MPVD) has stabilized just above its 25-year low, but its volume has withered away. The stock gained one cent to 32 cents on 20,000 shares today.

Glenn Kasner's RJK Explorations Ltd. (RJX) surged 13.5 cents to 26 cents on 2.04 million shares Wednesday, then gave back eight cents to 18 cents on 222,000 shares today. The moves follow word that it has recovered plenty of diamonds from a small batch of kimberlite at the Paradis Pond target on the Bishop property in the Nipissing area of Ontario that the company had drilled a year ago.

This is a surprise, as when RJK drilled its four holes into the feature, it "encountered unique-looking core" in three of the four holes, rock that baffled several "geologists with diamond experience." Unique or not, the material was deemed "a granitic breccia" with no mantle material present, and that was that -- or so it seemed.

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Excellent work by Will Purcell

Posted by Don at 2020-04-02 18:49