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Diamond & Specialty Minerals Summary for June 19, 2020

2020-06-19 20:48 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a mediocre 84-75-141 as the TSX Venture Exchange rose seven points to 564. Alpha Lithium Corp. (ALLI) had a good day, adding eight cents to 68 cents on 1.74 million shares. Today's gain follows Thursday's four-cent rise to 59 cents on 1.67 million shares. There has been nothing new this week and today, the company gave the usual response that there were no undisclosed material changes to account for the market activity, which does not mean that it is ignorant of the reason for the activity. Last week, the company cheered its geophysical work and camp building at the Tolillar lithium brine project in Argentina.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD), down four cents to 31 cents on 685,000 shares, has revised downward its 2020 guidance for the Gahcho Kue mine in the Northwest Territories as a result of the COVID-19 pandemic. The carat crop will decrease, but so will costs, the company says, and the situation certainly could have been worse. Indeed, one need only look northward to find a rival with far bleaker situation.

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