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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a tepid 50-57-158. The TSX Venture Exchange fell fractionally to 1,010 while diamond prices jumped 0.2 per cent. Eric Friedland's Peregrine Diamonds Ltd. (PGD) closed unchanged at 28 cents on 1.38 million shares. Peregrine, $4.65 in 2009, could see heavy tax-loss selling this year unless Mr. Friedland generates new excitement at Chidliak, on Baffin Island. Excitement is more likely next year, when a big bulk sampling program begins. Spiro Kletas's Big North Graphite Corp. (NRT) fell one-half cent to seven cents on 11.46 million shares. Big North is trading actively following word it has agreed to a friendly takeover by Flinders Resources Ltd. (FDR: $0.91).

Patrick Evans's Kennady Diamonds Inc. (KDI), down 12 cents to $7.82 on 30,000 shares, has found a 0.94-carat diamond with a visual examination of drill core from its Kelvin kimberlite at Kennady North, 10 kilometres northeast of Gahcho Kue in the Northwest Territories. The find is reminiscent of the 1.75-carat Aber Diamond that poked its nose through a broken length of drill core from Diavik's A-154 South pipe in 1994. That discovery ignited the stock of Aber Resources Ltd. -- now Dominion Diamond Corp. (DDC: $14.61) -- but the news from Kelvin barely budged Kennady's shares. Mr. Evans, perhaps the best diamond promoter in the business, already has Kennady's stock probing the promotional stratosphere. A former South African diplomat who began touting diamonds with SouthernEra Resources Ltd. in the 1990s, Mr. Evans says his Kelvin project "continues to exceed expectations." Indeed it has, helped by the fact that, like a doting schoolmarm, he began his current exploration semester by setting his expectations low.

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