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Diamonds & Specialty Minerals Summary for Nov. 12, 2014

2014-11-12 18:46 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was an indecisive 50-50-171. The TSX Venture Exchange fell fractionally to 771 while polished diamond prices inched upward. Robert Gannicott's Dominion Diamond Corp. (DDC) rose two cents to $16.02 on 179,000 shares. Dominion jumped up $1.15 to $16.77 late last week on word it had filed documentation starting the environmental review of its big Jay project at Lac de Gras. It has since given back much of its gain. A Jay mine is still several years off and could cost well over $600-million to build. Roy Bonnell's Argex Titanium Inc. (RGX) closed unchanged at 59 cents on 744,000 shares. Argex signed a long-term marketing and supply agreement to sell 25,000 tonnes of titanium oxide per year from its "first industrial-sized plant" in Quebec -- once the plant reaches "a certain capacity." That uncertain condition is not expected to occur until early 2017, assuming it can finance and build its plant.

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