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 Tuesday was a ho-hum 39-38-159. The TSX Venture Exchange gained six points to 489 while polished diamond prices edged lower. Robert Gannicott and Brenden Bell's Dominion Diamond Corp. (DDC) gained 64 cents to $14.70 on 280,000 shares. The stock is well above its mid-December low of $9.96 as Dominion appears to be successfully riding out a temporary downturn in diamond production at Diavik and Ekati and a (hopefully) temporary slide in rough diamond prices. Eric Desaulniers's Nouveau Monde Mining Enterprises Inc. (NOU) lost one-half cent to 13.5 cents on 1.24 million shares. The company recently declared a maiden resource estimate for the Tony block at its Matawinie graphite project in Quebec.

Patrick Evans's Kennady Diamonds Inc. (KDI: $2.90) has obtained an "exceptional" sample grade from its Faraday 2 kimberlite on the Kennady North property, 10 kilometres northeast of Gahcho Kue in the Northwest Territories. The 1.53-tonne batch of kimberlite core yielded 125 diamonds larger than a 0.85-millimetre cut-off. The gems weighed 6.85 carats, indicating a sample grade of 4.48 carats per tonne. (Considering just the 53 diamonds larger than a 1.18-millimetre cut-off, the grade drops to about four carats per tonne.) The company also tested 225 kilograms of core from Faraday 1, recovering 22 diamonds larger than a 0.85-millimetre sieve. They weighed 0.69 carat, or about 3.07 carat per tonne, or about 2.5 carats per tonne on a 1.18-millimetre sieve. Mr. Evans, Kennady's chief executive officer, says -- here comes the E-word again -- the "exceptionally high diamond recovery results" confirm the Faraday kimberlites have the potential to host high-grade diamond resources.

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