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Diamond & Specialty Minerals Summary for June 7, 2019

2019-06-07 19:34 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was an upbeat 83-66-151 as the TSX Venture Exchange rose one point to 596 and polished diamond prices were flat. Dermot Desmond and Stuart Brown's Mountain Province Diamonds Inc. (MPVD) gained two cents to $1.40 on 4.17 million shares, one of its busiest days in history. (Just over 4.5 million shares traded on a day in 1995, when the company discovered the 5034 pipe at Gahcho Kue, and again in 2016, as the company cut the ribbon at the new mine. In April, 4.7 million shares traded once again, but like today, there was no apparent reason.)

Bruce Counts's Lithoquest Diamonds Inc. (LDI: $0.095) is back in the field at its North Kimberley diamond project, near the northern coast of Western Australia. The company has begun its 2019 exploration program now that the rainy season is over, and the omnipresent sweltering heat has diminished to merely unbearable. The first phase of a two-phase program is now under way, says Mr. Counts, president and chief executive officer, adding that a "highly-qualified technical team" has been deployed to evaluate over 20 targets ahead of a drill program scheduled for later this year.

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