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Diamond & Specialty Minerals Summary for Sept. 16, 2020

2020-09-16 20:13 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a positive 90-81-129 as the TSX Venture Exchange rose five points to 747. Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC), without news in a month, closed unchanged at 54 cents on 268,000 shares. Lucara, which traded at $4.39 four years ago, thanks to a windfall from two huge diamonds mined within days at its Karowe mine in Botswana, sank to a mere 40 cents in March because of the COVID crisis and steadily weakening rough diamond prices. Things are only slightly better now, and so is Lucara's stock.

Leni Keough's Olivut Resources Ltd. (OLV), unchanged at 7.5 cents on 40,000 shares, is getting set to hunker down for another long winter, having accomplished little at its two diamond projects in Canada's North this year. Olivut spent just $45,000 on its HOAM project, south of Great Bear Lake, so far in 2020 and even less -- $22,000 -- at its Seahorse project, north of Great Bear Lake, which it shares with Dr. Ray Davies's Talmora Diamond Inc. (TAI: $0.025).

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