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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a weak 44-51-155. The TSX Venture Exchange gained two points to 691 while polished diamond prices were flat. Eric Friedland's Peregrine Diamonds Ltd. (PGD), hit an intraday high of 32 cents before closing up six cents to 31 cents on 1.67 million shares. The jump follows the successful exercise of 56.5 million warrants at 21 cents, helped by Mr. Friedland's brother, Robert Friedland, who bought nearly nine million warrants several days ago at just one-half cent. He also exercised 16 million warrants he had previously acquired. Cristiano Melcher's MBAC Fertilizer Corp. (MBC) jumped four cents to 7.5 cents on 16.32 million shares. MBAC's financial plight has not improved but the company said yesterday it has received tentative offers regarding its search for a partner, a buyer for its assets, or "other value maximizing transactions." There is no word which of those options are covered by the offers.

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