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Diamond & Specialty Minerals Summary for Oct. 14, 2020

2020-10-14 20:40 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a so-so 77-80-143 as the TSX Venture Exchange rose three points to 733 and polished diamond prices edged lower. Cypress Development Corp. (CYP), seemingly at home as a 20-center for most of the past year, popped up to an 84-cent high early this month, thanks to hype centred on its Clayton Valley lithium project in Nevada. It has been seeking a way home since then and today brought it a bit closer: Cypress dropped seven cents to 57 cents on 776,000 shares.

Ken MacNeill's Star Diamond Corp. (DIAM) lost one cents to 17 cents on 1.08 million shares on the heels of some perplexing comments about the latest -- and seemingly endless -- bulk sampling program of the Star pipe at the FalCon project in central Saskatchewan, as well as the company's continuing litigation against its co-venturer, Rio Tinto Exploration Canada Inc. (RTEC). The comments accompany -- indeed overshadow -- results from the fourth hole of the 10-hole Bauer trench cutter program, completed in 2019 by RTEC. The hole is one of the more intriguing tests, as it is about 150 metres southeast of the most southerly drifts, dug when Star Diamond collected its underground bulk sample in the mid-2000s.

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