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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a weak 48-54-144. The TSX Venture Exchange gained three points to 625 while polished diamond prices inched upward. Robert Gannicott's Dominion Diamond Corp. (DDC) slumped $1.24 to $13.76 on 837,000 shares on word it lost nearly $39-million (U.S.) last year. The loss should not have surprised investors, as the company has reported a (hopefully) temporary drops in production and rough diamond prices. The company has nevertheless declared its "sustainable" semi-annual dividend of 20 U.S. cents.

Nicholas Houghton's True North Gems Inc. (TGX), up one-half cent to 15 cents on 44,000 shares, has "continued to make steady progress" with construction of its Aappaluttoq ruby and sapphire mine in western Greenland. (The progress, although steady, has arguably been glacial.) Work continues on most of the infrastructure for the mine, and while the company cheerfully touts all its construction activities, it fails to mention when the mine will actually achieve production. Mr. Houghton, president and chief executive officer, had originally expected to reach production last fall, although that target was quickly updated to this spring.

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