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by Will Purcell
The diamond and specialty minerals stocks box score for Monday was a poor 44-66-156. The TSX Venture Exchange fell 16 points to 725. Polished diamond prices were flat. Robert Gannicott's Dominion Diamond Corp. (DDC) bucked the trend, gaining 44 cents to $19.11 on 333,00 shares. Richard Schler and Craig Scherba's Energizer Resources Inc. (EGZ) fell one cent to 14 cents on 1.23 million shares. The company, which has a big graphite resource at Molo in Madagascar, has promised a feasibility study no later than early 2015.
Chuck Fipke's Metalex Ventures Ltd. (MTX) slumped three cents to three cents on 7.18 million shares. Metalex has been silent since summer, mainly because the Ontario bureaucrats have been stonewalling its 60-kilometre westward extension of a winter road from the Victor mine to its U2 pipe near Kyle Lake. The delay, ostensibly triggered by environmental and Indian activists, is into its third year and has derailed Metalex's multimillion-dollar, 10,000-tonne test of U2. The bureaucratic pains helped kill Mr. Fipke's interest in a second diamond project nearby. Metalex acquired a majority interest in the Attawapiskat property near Victor in 2002 and it was the big driver when Mr. Fipke's launched Metalex. The stock hit $5.60 that year -- ignoring the effect of a 1:10 rollback in 2009 -- on the strength of promising mineral chemistry on the property. Mr. Fipke might still be a fan of the geochemistry but he has good reason to be disillusioned with the metaphorical -- and real -- roadblocks thrown up whenever he tries to explore Metalex's projects. He is still hoping to work U2, but Metalex has officially said it no longer plans to explore Attawapiskat.
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