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Diamonds & Specialty Minerals Summary for Nov. 26, 2014

2014-11-26 20:04 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a positive 54-52-160 although the TSX Venture Exchange fell nine points to 771. Polished diamond prices inched higher. Robert Gannicott's Dominion Diamond Corp. (DDC) gained 46 cents to $18.26 on 197,000 shares. Its intraday high of $18.33 is its highest since late 2008, when the stock was crashing from above $40 to a sad low of $2.19. After the close Dominion revealed that Rio Tinto, its Diavik co-venturer, has approved a mine for one of Mr. Gannicott's pet projects: A-21. With Mr. Gannicott on medical leave, acting CEO, Brendan Hall, and acting chairman, Dan Jarvis, will get to tout the plan when Dominion talks results with analysts next month. Daniel Spine and Ron Roda's Alabama Graphite Corp. (ALP) fell one-half cent to 18.5 cents on 799,000 shares. Alabama has stepped up its promotion of Bama, a former graphite mine in central Alabama, and Coosa, where it has a big but low-grade resource. The company's pitch is not getting traction; Alabama's stock is well off its late September high of 29.5 cents.

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