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Diamond & Specialty Minerals Summary for July 31, 2020

2020-07-31 19:05 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a rousing 119-64-117 as the TSX Venture Exchange rose 15 points to 721 while polished diamond prices leapt 0.4 per cent. Rough diamond prices inched 0.2 per cent higher last week, according to Paul Zimnisky's global rough diamond price index. This puts prices up over 2 per cent since early April, according to adjusted numbers. (This is a tweak in the data: The index is "subject to revision," says Mr. Zimnisky, based on new data.) Whatever the data, there is no doubt that prices fell over 12 per cent in late winter and early spring, because of the COVID-19 lockdown, but they are inching painfully higher as markets slowly reopen.

Dean Taylor's Diamcor Mining Inc. (DMI), down one-half cent to 8.5 cents on 6,000 shares, is enduring a government-ordered shutdown at its Krone-Endora at Venetia diamond project in South Africa. The operation -- essentially a mine -- has been in near-continuous bulk sampling since 2013, but the South Africans ordered it and other mines locked down in late March.

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