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Diamond & Specialty Minerals Summary for June 18, 2021

2021-06-18 20:53 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a mediocre 91-99-110 as the TSX Venture Exchange lost one point to 946. Alphamin Resources Corp. (AFM) was a busy trader, dropping two cents to 62 cents on 1.89 million shares. The company has a rich tin mine at Bisie in the eastern Democratic Republic of the Congo, an area where miners have come to expect -- and fear -- the unexpected. Continuing exploration at Mpama South is yielding grades topping 7 per cent tin, not unlike the mine on the Mpama North lobe, but over the past several years the company has had to deal with violent attacks, the loss of a bridge on its main transportation route and most recently, a volcanic eruption just to the west, at Goma.

Pierre Leveille's Deep South Resources Inc. (DSM), halted at 22.5 cents for over a day this week, recovered one cent to 14 cents on 7.62 million shares today. Deep South dove deeply southward Thursday, slumping 9.25 cents to 13 cents on 25 million shares on word that its application to renew the licence covering its Haib copper and molybdenum project in Namibia has been rejected. The rejection was based, the bureaucrats said, on the company's inability to advance the project to prefeasibility and to complete a planned drill program.

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