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Diamond & Specialty Minerals Summary for June 22, 2020

2020-06-22 20:38 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a positive 81-59-160 as the TSX Venture Exchange rose 10 points to 577. Lucara Diamond Corp. (LUC) just 40 cents in early spring, had another good day, adding three cents to 65 cents on 616,000 shares. There has been no news since early May.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD), unchanged at 31 cents on 591,000 shares, had a tough winter at its 100-per-cent-owned Kennady North property. Nevertheless, it is pressing ahead with the project, which hosts several curiously shaped but high-grade kimberlite pipes. The company failed to hit kimberlite in a COVID-shortened drill program on new targets, but it has expanded its property eastward, a move that might raise an eyebrow over in the offices of Randy Turner's dormant Canterra Minerals Corp. (CTM: $0.02).

Mr. Brown, president and chief executive officer, says that his company had planned 1,750 metres of drilling across six holes, but only one 200-metre geotechnical hole into the southeastern portion of the Kelvin pipe was completed. The other five tests were to have been geotechnical holes as well: another at Kelvin and two each into Faraday 2 and Faraday 1-3. Mr. Brown says that Mountain Province had more success with a second objective, collecting bathymetry data over several smaller lakes near the pipes.

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