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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a 52-52-146 draw. The TSX Venture Exchange gained one point to 699 while polished diamond prices slipped 0.25 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) closed unchanged at 65 cents on 651,000 shares. Construction of Stornoway's $800-million Renard diamond mine in Northern Quebec is in full swing -- and is on time and within budget. Alexander Stewart's Xmet Inc. (XME) lost one-half cent to 4.5 cents on 2.32 million shares. The company is chasing graphite at Blackflake West, near Albany in Northern Ontario., but it has been sidetracked by signs of sulphides. Xmet is also drilling for gold in Quebec.

Paul Brockington's Margaret Lake Diamonds Inc. (DIA: $0.20) says it has 12 high-priority drill targets on its Margaret Lake diamond project, 300 kilometres east-northeast of Yellowknife. The 19,700-hectare play is north and west of the Kennady North property, where Patrick Evans's Kennady Diamonds Inc. (KDI: $4.75) is spending many millions of dollars chasing a significant -- and expanding -- tonnage of high-grade kimberlite along its Kelvin and Faraday kimberlite system. Kennady Diamonds is currently working on a 436-tonne mini-bulk test of Kelvin and it is delineation drilling at Faraday. Both kimberlites have shown grades handily topping two carats per tonne.

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