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Diamond & Specialty Minerals Summary for Nov. 24, 2015

2015-11-24 18:37 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 35-47-156. The TSX Venture Exchange fell two points to 518 while polished diamond prices fell 0.25 per cent. Robert Gannicott and Brendan Bell's Dominion Diamond Corp. (DDC) lost seven cents to $11.17 on 543,000 shares. The company will reveal its third quarter financials on Dec. 10. The company's Ekati and Diavik mines continue to generate good cash flow despite lower revenues. Bruce Duncan's Canada Carbon Inc. (CCB) gained one cent to 26.5 cents on 377,000 shares. The company plans to sell marble from its Miller project to help build a Miller graphite mine.

Lukas Lundin and Dr. William Lamb's Lucara Diamond Corp. (LUC) lost eight cents to $2.07 on 1.08 million shares. The company, which recovered three huge diamonds weighing over 2,200 carats in total at its Karowe mine in Botswana last week, credits its recent plant optimization project with the finds. (The largest, a 1,111-carat gem described as the size of a tennis ball, is the largest diamond found in over a century.) Dr. Lamb, chief executive officer, confirmed that the huge diamond had been recovered from the large diamond recovery circuit installed at Karowe's plant just recently. It was "pretty good timing," Dr. Lamb said, as the diamond would have been destroyed had it gone straight to the pebble crusher.

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