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by Will Purcell
The diamond and specialty minerals stocks box score for Thursday was a ho-hum 54-52-160. The TSX Venture Exchange gained one point to 783 while polished diamond prices fell 0.1 per cent. Robert Gannicott's Dominion Diamond Corp. (DDC) gained three cents to $16.38 on 148,000 shares on word Mr. Gannicott, CEO, is taking three months off for treatment of a medical condition. Brendan Bell, executive vice-president, will act as CEO. Dominion has also appointed Elliot Holland as vice-president in charge of its big Jay project, which has been Mr. Gannicott's focus this year. Aubrey Eveleigh's Zenyatta Ventures Ltd. (ZEN) gained three cents to $2.01 on 76,000 shares. Investors are waiting for a dream sheet for Albany, its big graphite promotion in Northern Ontario.
Mark Bristow and James Campbell's Rockwell Diamonds Inc. (RDI), down five cents to 28 cents on 3,000 shares, has sold $4.1-million of convertible debentures to two major shareholders. Daboll Consultants Ltd. bought $3.1-million of the debentures, which pay 5-per-cent interest and are convertible over the next two years at or below the company's future share price, depending on whether Rockwell completes a private placement of stock. Mr. Bristow bought the remaining $1.1-million in debentures. Mr. Campbell, president and CEO, says the cash will strengthen Rockwell's balance sheet and continue financing its "organic growth projects." (Mr. Campbell is not branching out into agriculture, although that would not be a first for a struggling African diamond promoter. No, he means Rockwell needs the cash to increase output from its existing mines rather than acquiring new ones -- and he got to use "organic" which sounds important.)
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