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Diamond & Specialty Minerals Summary for March 1, 2021

2021-03-01 20:22 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a positive 101-87-112 as the TSX Venture Exchange rose 15 points to 1,034, while polished diamond prices rose 0.2 per cent. Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) had a good day, adding three cents to 80 cents on 148,000 shares.

Mr. Brown, president and chief executive officer, said late last week that Mountain Province's 49-per-cent-owned Gahcho Kue mine, 250 kilometres northeast of Yellowknife, has begun a "ramp-up to resume operations." The mine essentially ran to plan through the COVID-19 pandemic last year, achieving (at least its revised) production guidance, but it was suddenly shuttered early this month because of an outbreak, with two confirmed and six presumptive cases of the virus among its workers.

The ramp-up began a week ago today with an essential services crew change, which saw two industrial hygienists arrive to oversee the mine's work protocols and to complete a further deep cleaning of the facility. Essential services include power generation, water treatment and management, ploughing roads, critical maintenance and receiving fuel and cargo shipments arriving on the winter road. (In other words, most everything but mining rock and recovering diamonds.)

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