12:31:58 EDT Tue 29 Sep 2020

Diamond & Specialty Minerals Summary for Sept. 11, 2020

2020-09-11 20:08 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a cheerful 97-75-128 as the TSX Venture Exchange fell eight points to 733. Rough diamond prices inched 0.3 per cent higher last week but have essentially been flat for the past month, 11 per cent below their pre-COVID levels.

It has now been a year -- and not a good one -- since Sean Roosen's Osisko Gold Royalties Ltd. (OR) became a reluctant Quebec diamond miner, acquiring a 35-per-cent stake in Stornoway Diamond Corp. and its Renard mine in the Otish Mountains of north-central Quebec. (That Stornoway is not to be confused with the original Stornoway, left a lifeless husk after weak rough diamond prices and production woes at Renard forced it into bankruptcy.) New Stornoway, shed of its original shareholders, is now owned by Osisko, the Quebec government's Investissement Quebec, also with a 35-per-cent interest, Caisse de depot et placement du Quebec, with a 17-per-cent share and Shaun Usmar and Mark Cicirelli's Triple Flag, which owns the rest.

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