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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a dreary 27-62-164. The TSX Venture Exchange fell fractionally to 690 while polished diamond prices inched higher. Eric Friedland's Peregrine Diamonds Ltd. (PGD) dropped one cents to 17 cents on 200,000 shares. Peregrine, 13.5 cents in mid-January, rallied to 22 cents two weeks ago when stock guru, John Kaiser, called the company's Chidliak play on Baffin Island "the most undervalued collection of diamond fundamentals" he has seen since the 1992 discovery of Ekati. The modest -- and brief -- rally pales in comparison with Peregrine's surge to $4.65 in 2009, when Mr. Kaiser compared Chidliak in a favourable light against Ekati. Results since then have borne out his comparison for grade and value, but investors are still waiting for the tonnage to increase. Richard Schler's Energizer Resources Inc. (EGZ) lost 1.5 cents to 12 cents on 5.70 million shares. Today's volume was the highest by far since September, when the company enjoyed a brief surge provided by a puff piece written by U.S.-based Uptick Newswire.

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