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Diamond & Specialty Minerals Summary for July 2, 2020

2020-07-02 20:36 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a pleasant 118-57-125 as the TSX Venture Exchange rose seven points to 627. Rough diamond prices inched lower last week, according to diamantaire Paul Zimnisky's global rough diamond price index. The chart has essentially been flat since the COVID-19 pandemic disrupted the sales of rough and polished goods. Prices are off about 12 per cent over the past year, down 21 per cent in the past five years and are off by at least one-third since 2011.

Dr. Francis Dube's Zen Graphene Solutions Ltd. (ZEN), down six cents to 56 cents on 116,000 shares, has sold nearly 1.8 million shares at 60 cents, raising $1.08-million in a first tranche of the private placement that it arranged two weeks ago. Mr. Dube, president and chief executive officer, did not say how much cash Zen was seeking, but a few days later he gushed enthusiastically about the placement, noting that "expressions of interest far exceeded management's expectation."

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