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by Will Purcell
The diamond and specialty minerals stocks box score for Monday was a horrid 29-68-174. The TSX Venture Exchange fell 15 points to 790 while polished diamond prices inched lower. Diamond stocks were in full retreat again today but Kenneth MacNeill and George Read's Shore Gold Inc. (SGF) marched the other way, gaining 2.5 cents to 23.5 cents on 287,000 shares. There was no news to account for today's advance but that is not unusual, as the company's loyal shareholders often generate their own enthusiasm. The company is close to getting government approval for its mammoth Star-Orion South diamond mine in central Saskatchewan, but there is no sign of progress on a financing for its $2-billion mine. Aubrey Eveleigh's Zenyatta Ventures Ltd. (ZEN) gained two cents to $2.22 on 239,000 shares. Zenyatta, just $1.68 two weeks ago, is plodding along with a dream sheet for its Albany graphite project in Northern Ontario.
Jonathan Goodman and Ned Goodman's Dundee Corp. (DC.A) gained two cents to $16.04 on 109,000 shares. Dundee, a supporter of the Canadian diamond sector since the 1990s, is shifting its allegiance toward Eric Friedland's busy Peregrine Diamonds Ltd. (PGD: $0.205). Dundee and its subsidiaries were big participants in Peregrine's big rights offering this month, exercising not only their full allotment of rights but also a one-third share of all unexercised rights held by other shareholders. Dundee doubled its previous shareholding as a result and now owns 28.85 million shares and 13.3 million warrants. That gives Dundee a 12.4-per-cent interest in Peregrine heading into that company's bulk sampling program at Chidliak on southeastern Baffin Island.
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