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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a poor 40-74-152. The TSX Venture Exchange fell 24 points to 803 while polished diamond prices slipped slightly. George Read and Ken MacNeill's Shore Gold Inc. (SGF) slipped two cents to 20 cents on 290,000 shares. The company's loyal but increasingly disappointed shareholders are awaiting word the Canadian government has signed off on the company's proposed Star-Orion South diamond mine in central Saskatchewan. The approval will provide a morale boost but what the company really needs is $2-billion to build its mine. Peter Dickie's Niocorp Developments Ltd. fell five cents to 50 cents on 982,000 shares despite recent good news. The company has drilled some of its longest and highest grade rock at Elk Creek, a niobium play in Nebraska.

Eric Desaulniers's Nouveau Monde Mining Enterprises Inc. (NOU), unchanged at 20 cents on 5,000 shares, claims "several kimberlite exploration targets" on its Waasikusuu property in the James Bay region of Quebec. The company identified 35 magnetic anomalies in a summer program of geophysics and five survived a closer examination. The company touts the Waasikusuu area as a piece of the Superior craton, which hosts two economic diamond deposits, Victor in Northern Ontario and Renard in the Otish Mountains of Quebec. (It is a compelling story until investors look at a map: both are several kindred kilometres from Waasikusuu.) Mr. Desaulniers, president and CEO, says Nouveau Monde acquired its new diamond property because it lies up-ice from where Majescor Resources Inc.) (MJX: $0.045) found swaths of indicator minerals during the mid-2000s, in the area containing its old Mirabelli property. (Jacques Letendre, currently a Nouveau Monde director, was a key Majescor promoter and its primary geologist at the time.)

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