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Diamonds & Specialty Minerals Summary for May 19, 2015

2015-05-19 20:33 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 46-66-129. The TSX Venture Exchange fell fractionally to 694 while polished diamond prices were steady. James Bruchs's Tsodilo Resources Ltd. (TSD) jumped 30 cents to $1.05 on 36,000 shares. The thin trader recently wrapped up drilling at its BK-16 kimberlite in Botswana. Paul Ogilvie's Saint Jean Carbon Inc. (SJL) closed unchanged at 1.5 cents on 663,000 shares. Saint Jean is the latest graphite explorer to attempt a graphene promotion.

Ken MacNeill and George Read's Shore Gold Inc. (SGF), up one-half cent to 23 cents on 1.13 million shares, is proposing to expand its board by one and has nominated Stephen V. Scott to fill the sixth spot. The nomination has excited the company's weary retail shareholders, who read plenty into Mr. Scott's Rio Tinto connection. (Shore's retail backers were equally enthused when Brian Menell, a long-time fellow traveller of Benny Steinmetz, joined Shore's board in the mid-2000s.) Mr. Scott, an accountant, is currently the president and CEO of Minenet Advisors, a company that consults on corporate development, project management, strategy and business restructuring matters. While Shore may be in need of those services, what has the company's faithful feeling euphoric is Mr. Scott's lengthy tie with Rio Tinto PLC, a mining major once rumoured to have kicked the tires of Shore's $2-billion Star-Orion South diamond project in central Saskatchewan.

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