This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a poor 36-70-159. The TSX Venture Exchange slumped 12 points to 911 while polished diamond prices were flat. Matt Manson's Stornoway Diamond Corp. (SWY) gained one cent to 59 cents on 1.29 million shares. The company began building its Renard diamond mine in Northern Quebec two months ago. It is also drilling deep within its top pipe, Renard-2, in the hope of expanding its reserve and resource estimates. At last report the work was showing promise. MBAC Fertilizer Corp. (MBC), down one cent to 13.5 cents on 2.50 million shares, has "resumed continuous production" of superphosphate and sulphuric acid at its Itafos mine in Brazil "following the ease of working capital constraints." In other words, MBAC has squeezed more cash out of its bankers and the on-again, off-again operation is on again.

Paul Brockington's Margaret Lake Diamonds Inc. (DIA), unchanged at 25 cents on 40,000 shares, wants to sell three million regular shares at 25 cents and 1.2 million flow-through shares at 28 cents. Nearly $900,000 of the $1.08-million it hopes to raise is for diamond exploration on a property at Margaret Lake, 250 kilometres northeast of Yellowknife. Margaret Lake recently identified three potential kimberlite targets on a narrow strip of claims extending south of its main block, putting them just west of the rich kimberlites at Gahcho Kue and Kennady North.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS