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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a mediocre 44-48-160. The TSX Venture Exchange fell two points to 642 while polished diamond prices were flat. Miles Rideout and Rick Boulay's Latin American Minerals Inc. (LAT) fell one-half cent to one cent on 3.84 million shares. The company is seeking a co-venturer for its Itapoty diamond project in Paraguay, where it found dozens of diamonds in stream samples over the past several years. Unfortunately, it still has no idea from where they came. Cristiano Melcher's MBAC Fertilizer Inc. (MBC) had a good day, gaining one cent to nine cents on 3.21 million shares. MBAC is struggling to get its balance sheet back in balance without having to sell its Itafos phosphate mine in Brazil at a big loss.

Patrick Evans's Kennady Diamonds Inc. (KDI) fell 37 cents to $4.38 on 31,000 shares on the heels of the diamond counts from a 933-kilogram batch of kimberlite from Faraday 2. The test, one of several collected along the Kelvin-Faraday complex, 10 kilometres northeast of Gahcho Kue in the Northwest Territories, produced 70 diamonds larger than a 0.85-millimetre cut-off. Those stones weighed 1.81 carats, for a sample grade of 1.93 carats per tonne. Today's sell-off was likely the result of the grade dipping below two carats per tonne. Mr. Evans stuck to his promotional guns, saying he was pleased with the "high diamond recovery results," adding that he continues to credit Kelvin-Faraday with the potential to host between 12 million and 15 million tonnes at between two and 2.5 carats per tonne.

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