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Diamond & Specialty Minerals Summary for Oct. 19, 2021

2021-10-19 19:34 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a so-so 92-95-113 as the TSX Venture Exchange rose 12 points to 950 while polished diamond prices edged higher. Robert Setter's Fuse Cobalt Inc. (FUSE) jumped to an intraday high of 11 cents, ending the day up two cents to 10 cents on 5.69 million shares. Fuse has said not a word since it rolled out its second quarter financials in late August, but today was its busiest day by far since a brief 119-million-share trading frenzy on a mid-January day that followed news about a rival's refinery plan.

Dean Taylor's Diamcor Mining Inc. (DMI) closed unchanged at 46.5 cents on 42,000 shares. The company has delivered 2,521 carats of rough diamonds extracted from the gravels at its Krone-Endora at Venetia project in South Africa for tender -- its first sale of the current quarter. Sending diamonds off for tender does not necessarily mean they were just mined -- they could have been stockpiled -- and Mr. Taylor, president and chief executive officer, offers only vagueness: "The total carats delivered for this initial tender are in line with company expectations," he says.

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