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Diamond & Specialty Minerals Summary for Aug. 31, 2020

2020-08-31 20:53 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a positive 88-80-132 as the TSX Venture Exchange rose five points to 751. Frank Basa's Canada Silver Cobalt Works Inc. (CCW) dropped one cent to 64 cents on 1.17 million shares. The company is pursuing cobalt and silver -- or silver and cobalt, depending on which way the promotional winds are blowing -- at its Castle project in Northern Ontario. Mr. Basa and his crew also have two new rising stars of the battery sector, nickel and copper, covered at Castle.

Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) closed unchanged at 38.5 cents on 51,000 shares. The company's 49-per-cent share of the Gahcho Kue mine has been doing well on a production basis; unfortunately, thanks to one thing or another, its diamond revenues have disappointed since day one. Now, according to the mine plan at least, Gahcho Kue is just a decade from its end and worse, it is looking at diminished production and lesser diamond quantity years before that end arrives. Fortunately, there is also the prospect of adding a lot of additional kimberlite into the mine plan, rock that could come from various sources including one near and dear to Mountain Province's heart.

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