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Diamonds & Specialty Minerals Summary for Jan, 23, 2015

2015-01-23 21:02 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a 48-48-156 draw. The TSX Venture Exchange fell fractionally to 678 while polished diamond prices inched lower. George Read and Ken MacNeill's Shore Gold Inc. (SGF) gained 1.5 cents to 25.5 cents on 116,000 shares. Shore is one of just a few diamond juniors to creep upward this year. There is no news to support the modest gain but Shore plans a big drill program at Orion South, a key pipe in its $2-billion plan for a central Saskatchewan mine. Jean-Sebastien Lavallee's Critical Elements Corp. (CRE) fell four cents to 18.5 cents on 842,000 shares. Its top prospect, the Rose lithium-tantalum project in Quebec, has been inactive lately. Critical did have news this week, but just to say nothing has been happening at its exploration plays.

Dr. Stewart Blusson's Archon Minerals Ltd. (ACS: $1) wants to maintain its 34.67-per-cent interest in the Buffer claims surrounding Ekati, near Lac de Gras in the Northwest Territories. The obvious reason is the big Jay pipe that Archon's majority partner, Robert Gannicott's Dominion Diamond Corp. (DDC: $20.13), intends to develop. Jay hosts 90 million carats worth $75 (U.S.) per carat and Dominion thinks it and Archon will have to spend $500-million to bring Jay to production. Archon's share could reach $175-million. The company recently raised $8-million, most of it from Dr. Blusson, to increase its interest in Buffer, so he seems serious about being an active participant on Buffer.

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I believe the correct symbol for Northern Graphite is NGC.v (0.67) last price and not NCG as you have listed above...cheers...mike

Posted by Mike at 2015-01-25 08:35

Right you are, of course. Thanks for the catch.

Will

Posted by Will Purcell at 2015-01-25 20:06


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