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Diamond & Specialty Minerals Summary for Feb. 14, 2020

2020-02-14 17:57 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a 69-69-164 draw as the TSX Venture Exchange fell fractionally to 570. Rough diamond prices show hints of recovery since bottoming last fall, but polished prices, down 0.1 per cent today, are at their lowest in two years, a trend that bodes ill for a continued rally. Star Diamond took it on the chin today, dropping four cents to 41 cents on 448,000 shares. Lithium prices are also in a two-year funk, although after a tough 2019, vanadium prices are inching higher this year.

Chris Taylor and Claudia Tornquist's Dunnedin Ventures Inc. (DVI), unchanged at seven cents on 377,000 shares, is going through a change and that bodes ill for the company's Kahuna diamond project near Rankin Inlet in Nunavut. Ms. Tornquist, president and chief executive officer, says that Dunnedin will roll back its stock 1:5, rename itself Kodiak Copper Corp. and then raise $3-million by selling an assortment of regular shares at 35 cents, flow-through shares at 45 cents and charity flow-through shares at 52.5 cents.

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