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Diamond & Specialty Minerals Summary for Sept. 18, 2018

2018-09-18 19:31 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a positive 70-60-148. The TSX Venture Exchange rose four points to 723 while polished diamond prices rose 0.1 per cent. Rick Wilson's Lico Energy Metals Inc. (LIC) lost one cent to two cents on 5.89 million shares. The company, which is working cobalt properties in Ontario, will complete a 1:10 rollback before the open on Wednesday. It may soon need another one.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM), down one-half cent to 20.5 cents on 472,000 shares, is cheering the latest developments at its Star-Orion South diamond project in central Saskatchewan. The company granted an option to earn a 60-per-cent interest in the project to Rio Tinto PLC in the spring of 2017. Rio Tinto is now inching toward starting the first 10-hole drill program at Star, which is required under the first stage of its four-stage option deal. (Rio's first stage of work does not give it an interest in the project, but a second stage expected to be similar in cost and scope to the first, will give it a 51-per-cent interest in the project.)

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"Both co-venturers insist that the program is on schedule for the bulk sample to be collected this year."

Where dd you hear this? Seems like things will be partial bulk sample at best. Nuna contracts only till end of October.

Posted by shadow321 at 2018-09-19 11:59

Where did I get that? It's right in the press release: "RTEC has indicated that it is presently on schedule for commencement of bulk sample drilling during 2018. "

It may not be completed, but it is supposedly to start.

My tone "...insists..." suggests that I'm not so sure, and if it does start, "partial" seems more likel, in my opinion.

Cheers,

Will

Posted by Will Purcell at 2018-09-20 15:05


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