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Diamond & Specialty Minerals Summary for Aug. 7, 2020

2020-08-07 19:20 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a weak 71-105-124 as the TSX Venture Exchange fell two points to 739 while polished diamond prices inched lower. Bryce Crocker's Jervois Mining Ltd. (JRV) added two cents to 28 cents on 1.47 million shares. Jervois is primarily a cobalt explorer in Idaho, but its feasibility study is being delayed because of the pandemic, and lately the company has been touting plans to drill a copper and gold target in Uganda.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD), up five cents to 36 cents on 402,000 shares Thursday on the company's second quarter financials, dropped one-half cent to 35.5 cents on 69,000 shares today. Mountain Province racked up a $39-million operating loss in the quarter ended June 30, compared with a $12.8-million gain the previous year, largely as a result of the COVID-19 pandemic that crushed rough diamond prices and closed most traditional avenues for selling rough diamonds.

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