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Diamonds & Specialty Minerals Summary for Jan. 29, 2015

2015-01-29 19:15 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a poor 39-56-158. The TSX Venture Exchange fell fractionally to 667 while polished diamond prices fell 0.3 per cent. Eric Friedland's Peregrine Diamonds Ltd. (PGD) traded actively again today, gaining 1.5 cents to 21.5 cents on 1.16 million shares. Peregrine, which significantly expanded its Chidliak tonnage estimates earlier this week, plans mini-bulk tests of three key kimberlites on the property northeast of Iqaluit in eastern Nunavut. Marc LeVier's Great Western Minerals Group Ltd. (GWG) fell one-half cent to 3.5 cents on 1.45 million shares. The company has a low-tonnage, high-grade rare earth project at Steenkampskraal in South Africa that it wants to develop, but it needs over $100-million in cash.

Mike Koziol and Rick Mazur's Alto Ventures Ltd. (ATV), unchanged at 7.5 cents on 44,000 shares, is touting indicator mineral results from its GEFA diamond property east of Pikoo in Northern Saskatchewan. The company collected 325 samples from GEFA and the nearby Fisher property last fall. Most of the samples had been "visually processed" before Christmas and Mr. Mazur, CEO, said he expected final results by February. He did not beat that target -- Alto has processed barely half its samples so far -- but he was eager to tout the results already available.

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