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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a horrid -- this is becoming a way of life -- 28-73-170. The TSX Venture Exchange fell four points to 746 while polished diamond prices inched upward. Matt Manson's Stornoway Diamond Corp. (SWY) closed unchanged at 54 cents on 366,000 shares. Stornoway is trading for less than half the $1.22 it hit this spring and has been edging ever closer to its two-year low of 45 cents. The company has been busy drilling at Renard-2 this summer and fall, and while good news could arrest the slide, Stornoway has already been touting the pipe as perhaps hosting many more diamonds than it officially lists. Iamgold Corp. (IMG) set another all-time low, slumping 33 cents to $1.75 on 5.87 million shares. A falling gold price, lowered debt ratings and dwindling cash supplies have prompted Iamgold to sell its profitable Niobec niobium mine in Quebec for over $500-million. Iamgold also holds a 1-per-cent royalty on production from the Diavik diamond mine in the Northwest Territories.

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