This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Will Purcell
The diamond and specialty minerals stocks box score on Friday was a poor 81-122-97 as the TSX Venture Exchange fell 18 points to 896 while polished diamond prices edged lower. Don Bubar's Avalon Advanced Materials Inc. (AVL) has been quiet for the past two months but it was a busy trader today, closing unchanged at 13 cents on 1.47 million shares. Avalon has a rare earth prospect near Yellowknife, a tin project in Nova Scotia and a lithium play in Northwestern Ontario.
Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC), $4.39 in 2016 but a 40-center last March and only a few cents better in early fall, began 2021 with a bang, getting as high as 69 cents Wednesday. It could not stick, however, dropping two cents to 61 cents on 324,000 shares today. Lucara has a 25-year renewal of its mining licence for Karowe, where it mined enough big diamonds in a single year to cover its acquisition and construction costs. That was in the mid-2010s and lower diamond prices have since dented the company's income statements and clobbered its stock price, but Lucara expects the mine to be a cash cow for the duration of its new licence.
The remainder is available to Stockwatch subscribers.
© 2021 Canjex Publishing Ltd. All rights reserved.