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Diamond & Specialty Minerals Summary for Feb. 12, 2025

2025-02-12 17:39 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a weak 69-81-160 as the TSX Venture Exchange added seven points to 641. The tough rough diamond market bodes ill for Canada's few remaining diamond miners. There has been nothing new in three weeks from Dermot Desmond's Mountain Province Diamonds Inc. (MPVD), but the company continues to plumb the depths of the TSX. On Tuesday, its stock found another new low, this time at five cents, as it ended the day down one-half cent to 5.5 cents on 1.38 million shares. Today was better, as Mountain Province closed at six cents on 57,000 shares, still in silence.

Mark Ferguson's Arbor Metals Corp. (ABR) rose 2.5 cents to 43 cents on 139,000 shares. Two weeks ago, Mr. Ferguson, president and chief executive officer, cheered that he and his crew intended to start a second phase of drilling at the company's Jarnet lithium project in the James Bay district of Quebec -- work that was designed to follow a 10-hole program that spanned nearly 2,000 metres last year.

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