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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a mediocre 66-82-152 as the TSX Venture Exchange rose four points to 541 while polished diamond prices edged lower. Lucara Diamond Corp. (LUC) added 2.5 cents to 49.5 cents on 348,000 shares. The company remains silent, but its stock has been inching higher since it bottomed at 40 cents at the start of April. Selling rough from its Karowe mine is still a challenge, other than the trickle it sells through its Clara online system.

Dennis Washington, the Montana billionaire who took Dominion Diamond Corp. private in 2017 through a cash offer of just over $18 per share, has revealed his stalking horse bid for Dominion, which put itself in to bankruptcy protection in April. While the offer, which calls for a cash purchase price of $126-million (U.S.) plus adjustments, many of Dominion's (not so) secured creditors may be left with nothing. Mr. Washington and his Washington Group took Dominion public in 2017 through a $1.5-billion takeover that was heavily leveraged with debt financing.

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