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Diamond & Specialty Minerals Summary for Jan. 14, 2020

2020-01-14 18:32 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a positive 74-67-169 as the TSX Venture Exchange gained two points to 574. Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC) gained one cent to 85 cents on 356,000 shares. The company quietly continues mining at its profitable Karowe mine in Botswana, but it is not the cash cow it once was, because of lower rough diamond prices and the absence of any huge and exceptional gems like the two that it pulled from the mine over four years ago. Fortunately, all signs suggest Karowe should be a solid cash producer for the next few decades.

Laura Lee Duffett's Tres-Or Resources Ltd. (TRS) closed unchanged at nine cents on 7,000 shares. The company began the week with news that it has drilled five holes into the Guigues kimberlite, news that sent the stock down 1.5 cents to nine cents on 114,000 shares Monday. The reaction is discouraging, as this is the first time in a decade that Ms. Duffett, president and chief executive officer, had seriously proposed drilling the big kimberlite in Northeastern Ontario, and the first time in the nearly 20 years that the company has owned the pipe that she has followed through on drill plans.

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