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Diamond & Specialty Minerals Summary for May 6, 2021

2021-05-06 20:28 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a so-so 92-98-110 as the TSX Venture Exchange fell one point to 943. New and recently adjusted data from diamond guru Paul Zimnisky shows that rough prices have flattened following an impressive rebound fall from last spring's COVID-19-induced low, a recovery that ran through the summer and fall of last year. Rough prices are up over 22 per cent over the past year, but they remain nearly 20 per cent lower than a decade ago.

Patrick Power and Buddy Doyle's Arctic Star Exploration Corp. (ADD), currently the hottest diamond stock about, thanks to its Diagras project, just northeast of Diavik in the Northwest Territories, has scored another new kimberlite discovery in the shadow of another old pipe on a 30-year-old project once owned by De Beers Canada. Arctic Star, which dipped one-half cent to 18.5 cents on 1.02 million shares today after posting a three-cent gain on Wednesday following the news, now has three new discoveries from its first four targets.

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