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Diamond & Specialty Minerals Summary for Feb. 19, 2021

2021-02-19 20:57 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was an enthusiastic 120-85-95 as the TSX Venture Exchange soared 26 points to 1,098. Dermot Desmond's Mountain Province Diamonds Inc., up six cents to 75 cents on 82,000 shares, is sufficiently pleased with the rough diamond market that it will be offering its most valuable diamonds for sale in its next auction of production from the Gahcho Kue mine, which will run from late this month into early March in Antwerp.

In normal years -- when a pandemic does not force closure of the diamond markets -- Mountain Province holds 10 auctions through Bonas Group. It now appears to be back on schedule, holding the sales every five weeks, and included in its latest offering of its 49-per-cent share of run-of-mine production from Gahcho Kue will be "more than 30 high-quality-grade, 10.8-plus-carat rough diamonds." (While that might sound encouraging, one should recall that Mountain Province sold over 400 individual gems weighing at least 10.8 carats last year.)

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