13:55:36 EST Mon 11 Dec 2017
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Diamonds Summary
Symbol C : *MKTDIAM
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Diamond & Specialty Minerals Summary for Oct. 11, 2017

2017-10-11 21:00 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a bleak 53-86-124. The TSX Venture Exchange fell two points to 791 while polished diamond prices gained 0.2 per cent. Try as it might, Ken MacNeill and George Read's Shore Gold Inc. (SGF) cannot break free of its 20-cent tether. Shore dropped one-half cent to 20 cents on 423,000 shares today.

Matt Manson's Stornoway Diamond Corp. (SWY), down one cent to 79 cents on 256,000 shares, had a so-so third quarter at its Renard diamond mine in Northern Quebec. The company produced 442,154 carats during the summer quarter, averaging 0.87 carat per tonne from the 506,381 tonnes of kimberlite that it processed. The kimberlite processed was about 6 per cent less than the 540,000 tonnes projected, but the carat crop was 5 per cent higher than the 422,475 carats Stornoway had been expecting during the quarter. This pleasing result was because of what Mr. Manson, president and chief executive officer, called a "12 per cent beat on recovered grade."

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