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Diamond & Specialty Minerals Summary for March 30, 2023

2023-03-30 18:38 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was an upbeat 117-87-112 as the TSX Venture Exchange rose six points to 630. Dermot Desmond and Mark Wall's Mountain Province Diamonds Inc. (MPVD) nevertheless lost one-half cent to 48.5 cents on 125,000 shares.

As the 2020s drag on, the pressure to augment the reserves of Mountain Province's 49-per-cent-owned Gahcho Kue mine grow, as the most recent mine plan, rolled out last year, projected the last kimberlite being processed early in 2030. With the end just seven years off and the company and its majority co-venturer, De Beers Canada, looking at hefty costs of closure, delaying the inevitable by even a few years is a worthwhile exercise.

And so, Mr. Wall, president and chief executive officer, continues to broach the subject of his company's fully-owned Kennady North project, home to three seemingly economic kimberlites that could fit the bill. As well, the partners are looking at boosting the life of the existing Gahcho Kue kimberlites through underground mining.

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