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Diamond & Specialty Minerals Summary for July 20, 2020

2020-07-20 21:07 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a pleasant 109-70-121 as the TSX Venture Exchange rose 10 points to 685 and polished diamond prices edged lower. Michael Kobler's American Lithium Corp. (LI), which has tripped more circuit breakers than a frayed cord over the past two weeks, fell 21 cents to $1.77 on 3.13 million shares today. The only news in the past month has the company buying back a 1.5-per-cent portion of a gross overriding royalty at its TLC project in Nevada.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD), unchanged at 28.5 cents on 251,000 shares, kept the wolf from its door during the second quarter -- but did little more -- with its limited rough diamond sales from the Gahcho Kue mine in the Northwest Territories. Still, the result was cheerful news, given that the company's main rival, Dennis Washington's Dominion Diamond Mines, has been forced into bankruptcy protection by the financial challenges of dealing with the virus and a partner unwilling to temporarily suspend production.

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