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Diamond & Specialty Minerals Summary for Jan. 9, 2020

2020-01-09 17:39 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a mediocre 67-80-163 as the TSX Venture Exchange fell fractionally to 577 while polished diamond prices edged lower. Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) closed unchanged at $1.15 on 22,000 shares. The company is likely set to reveal its 2019 production and sales results for its 49-per-cent interest in the Gahcho Kue mine, 250 kilometres northeast of Yellowknife in the Northwest Territories. (Last year, the company rolled out its numbers in mid-January.) Mr. Brown, president and chief executive officer, has already dropped some hints, projecting the mine will have produced close to 6.8 million carats, and he has described rough diamond sales in the final quarter as having "stabilized." Investors expecting a big jump may be disappointed, as Mr. Brown may be using the promoter's version of stabilized, which translates as "no better than before."

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