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Diamond & Specialty Minerals Summary for Nov. 28, 2019

2019-11-28 20:28 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a positive 59-46-195 as the TSX Venture Exchange fell one point to 532 and polished diamond prices inched higher. Largo Resources Ltd. (LGO) added 13 cents to 95 cents on 2.07 million shares. The Brazilian vanadium miner was near death four years ago, trading at just 11 cents and swimming in debt, but it got as high as $4.66 a year ago and paid off all its debt, thanks to surging vanadium prices. Unfortunately, vanadium prices have tumbled dramatically this year.

Dean Taylor's Diamcor Mining Inc. (DMI), down one-half cent to 8.5 cents on 147,000 shares, is headed toward a strong third quarter, which ends Dec. 31, 2019, based on its latest sale of diamonds recovered from its Krone-Endora at Venetia project in South Africa. The company has just wrapped up its second sale of the quarter, selling 6,055.28 carats for just over $693,000 (U.S.), or $114.51 (U.S.) per carat. Just five weeks ago, Diamcor sold 4,033 carats for nearly $425,000 (U.S.), or $105.15 (U.S.) per carat.

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