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Diamond & Specialty Minerals Summary for Dec. 2, 2019

2019-12-02 19:51 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a weak 69-69-165 as the TSX Venture Exchange rose one point to 533 and polished diamond prices inched higher. Ken MacNeill and George Read's Star Diamond Corp. (DIAM), tethered to the 20-cent mark for the last seven years, fluttered free again today, closing one cent higher at 34 cents on 1.33 million shares. Rio Tinto said in mid-November that it was exercising all four options to gain a 60-per-cent interest in Star's FalCon project in Saskatchewan. Mr. MacNeill and his crew are reviewing the documents, but investors think the news will be good for Star Diamond.

In the absence of news, or even an up-to-date presentation, investors are left to read the tealeaves of a company's quarterly reports -- or two companies' reports, in the case of joint venture projects. Patrick Power's Arctic Star Exploration Corp. (ADD), up one cent to six cents on 70,000 shares, says that drilling is planned for next spring on its Diagras diamond project, just northeast of the Diavik and Ekati mines and occupying ground where De Beers Canada found roughly 20 kimberlite pipes in the 1990s and early 2000s.

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