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Diamond & Specialty Minerals Summary for April 7, 2020

2020-04-07 18:26 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a rosy 88-49-165 as the TSX Venture Exchange added another three points to 402 and polished diamond prices rose 0.2 per cent. One diamond company had a good day today. Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC), $4.39 in 2016 but just 40 cents last week, adding six cents to 51 cents on 386,000 shares. The company is still doing well at its Karowe mine in Botswana, aside from the COVID-19 crisis at least.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM) rose one-half cent to 24.5 cents on 511,000 shares. The company has been served a statement of defense from Rio Tinto Exploration Canada Inc. (RTEC), its yes-I-am, no-you're-not joint venture partner on the FalCon diamond project in central Saskatchewan. RTEC filed notice in early November that it was exercising all four of its options on the FalCon project, a move it said triggering the formation of a joint venture with RTEC holding a 60-per-cent interest.

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