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Diamond & Specialty Minerals Summary for July 30, 2020

2020-07-30 19:56 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a depressing 61-112-127 as the TSX Venture Exchange fell five points to 705 and polished diamond prices rose 0.1 per cent. ALX Resources Corp. (ALX) added 1.5 cents to seven cents on 3.89 million shares. The company said earlier this week -- getting a ho-hum reaction initially -- that it had received assays of up to 2.43 per cent nickel from sampling at its Falcon project in Northern Saskatchewan.

Patrick Power's Arctic Star Exploration Corp. (ADD), unchanged at three cents on 351,000 shares, is poised to dilute away its co-venturer at the Diagras diamond project, just northeast of Lac de Gras in Canada's original diamond district. The property has seen diamond geologists tramping about since the early 1990s, when De Beers Canada realized it had been upstaged not only by Dr. Stu Blusson and Chuck Fipke's Dia Met Minerals Ltd., but by the late Bob Gannicott's Aber Resources Ltd. De Beers' staked what it called the Hardy Lake property and found over a dozen kimberlites but none with many diamonds. It then quit the play after several fruitless years, having exhausted what it believed were all the worthwhile targets.

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