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Diamonds & Specialty Minerals Summary for April 6, 2015

2015-04-06 19:38 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a 50-50-150 draw. The TSX Venture Exchange gained five points to 688 while polished diamond prices inched upward. Duane Poliquin's Almaden Minerals Ltd. (AMM) gained two cents to $1.10 on 16,000 shares, has written down its ATW diamond project southeast of Lac de Gras by $1.5-million to just $1. Mr. Poliquin, CEO, nevertheless says Almaden will resume exploration at ATW "when economic conditions are more favourable." The company has spent 15 years chasing a swath of encouraging indicator minerals but has failed to drill their source. Cristiano Melcher's MBAC Fertilizer Corp. (MBC) continues to trade actively, gaining 1.5 cents to four cents on 4.71 million shares. MBAC needs to refinance its mounting debt while it tries to turn a profit at its Itafos phosphate mine in Brazil. The current depth of the hole is unclear as the company has missed its filing deadline for its 2014 financials.

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