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Diamond & Specialty Minerals Summary for Jan. 13, 2020

2020-01-13 18:07 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a mediocre 62-82-166 as the TSX Venture Exchange slid 10 points to 572. Ken MacNeill and George Read's Saskatchewan diamond explorer Star Diamond Corp. (DIAM) hit another eight-year high today, reaching 53 cents in intraday trading before ending the day down two cents to 48 cents on 1.18 million shares. Investors are still waiting for news about the status of Star's joint venture with Rio Tinto.

Charles Gryba's thin trading Central Timmins Exploration Corp. (CTEC) closed unchanged at 2.5 cents on 117,000 shares. Today was the last day of trading before the company's 1:6 rollback takes effect at the open Tuesday. Mr. Gryba, president and chief executive officer, says that the consolidation was needed to increase the share price -- nothing else having worked since the company went public in the fall of 2018 -- and to improve the liquidity of the stock and help raise new cash. Central Timmins has also been working on a strategic review, a move often perceived as raising a white flag over a company's existing projects.

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