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Diamond & Specialty Minerals Summary for May 27, 2020

2020-05-27 20:51 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a pleasant 95-75-130 as the TSX Venture Exchange rose two points to 541 while polished diamond prices edged lower.

Rough diamond prices -- for those able to sell their gems -- inched higher last week, according to Paul Zimnisky's global rough diamond price index. The index regained 0.25 per cent but has essentially been flat since it bottomed at the end of March. Rough prices are off 11 per cent from their late January high and are down over 13 per cent from a year ago. Worse, rough is down roughly one-third from its 2011 highs. While the COVID-19 crisis accounts for some of the decline, most is the result of a steady slide through the mid-2010s.

Laura Lee Duffett's Tres-Or Resources Ltd. (TRS), up 1.5 cents to 9.5 cents on 13,000 shares, is cheering word that kimberlite drill core from its Guigues pipe, just northeast of Lac Temiscamingue in northwestern Quebec, has arrived safely at Chuck Fipke's CF Mineral Research Ltd. laboratory in Kelowna, B.C. It must have been an arduous journey, as the five-hole, 1,430-metre drill program wrapped up in mid-January, a good two months before the COVID-19 crisis began to limit cross-Canada shipments of non-essential goods such as kimberlite.

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