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by Will Purcell
The diamond and specialty minerals stocks box score for Thursday was a ho-hum 72-78-140. The TSX Venture Exchange rose one point to 829 while polished diamond prices edged upward. Matt Manson's Stornoway Diamond Corp. (SWY) continued its slow but relentless decline, dropping three cents to 50 cents on 756,000 shares. Stornoway got to a high of $1.34 as its Renard mine in Quebec reached production in the fall of 2016, but the stock has been drifting lower while the company works out some important kinks in the operation.
Lukas Lundin and Dr. William Lamb's Lucara Diamond Corp. (LUC), unchanged at $2.20 on 968,000 shares, had a solid 2017 at its Karowe mine in Botswana and is expecting another decent year in 2018,just not as good as a few years ago. Lucara sold nearly $221-million (U.S.) worth of diamonds in 2017, enough to record a profit of $65.1-million (U.S.). In 2016, Lucara sold nearly $296-million (U.S.) worth of diamonds but achieved a profit of just $70.7-million (U.S.). Huge diamonds figured significantly in the revenues for both years. In 2016, Lucara's sales included the 813-carat Constellation diamond, which went for $63.1-million (U.S.). Last year, the company sold the 1,113-carat Lesedi La Rona diamond for $53-million (U.S.).
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