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Diamond & Specialty Minerals Summary for May 10, 2021

2021-05-10 19:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a lacklustre 91-113-96 as the TSX Venture Exchange fell 14 points to 940 and polished diamond prices rose 0.2 per cent. Alphamin Resources Corp. (AFM) jumped six cents to 74 cents on 12.27 million shares on word that it earned a hefty $36.45-million (U.S.) mining high-grade tin at its Bisie mine in the Democratic Republic of the Congo.

Lukas Lundin and Eira Thomas's Lucara Diamond Corp. (LUC), up one cent to 84 cents on 178,000 shares, had a productive and profitable first quarter mining diamonds at its Karowe mine in Botswana. The company recorded $53.1-million (U.S.) in first quarter revenue, an annualized pace of just over $212-million (U.S.) that is just above the upper limit of its 2021 guidance. The revenue was generated from the sale of 91,760 carats, within the company's expected range, but the average price, $579 (U.S.) per carat, was handily above the projected average of $527 (U.S.) per carat.

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