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Diamond & Specialty Minerals Summary for May 12, 2020

2020-05-12 20:36 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a mediocre 69-63-169. The TSX Venture Exchange rose five points to 500 while polished diamond prices edged lower. Craig Scherba's NextSource Materials Inc. (NEXT) closed unchanged at 4.5 cents on 1.27 million shares. The company, which has been spinning its promotional wheels at the Molo graphite project in Madagascar for years, has been silent for the past month.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM), unchanged at 25 cents on 218,000 shares, is cheering a larger macrodiamond gleaned from the Orion North pipe at the company's FalCon project in central Saskatchewan. The 0.55-carat gem, a piece of a larger gem apparently, was recovered by a core drilling program undertaken in November by Rio Tinto Exploration Canada, Star's partner and current co-litigant on the project. While most of the exploration excitement and much of the lawyering centres on the Star and Orion South pipes, there are plenty of other kimberlites that RTEC has been checking out.

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