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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a mediocre 62-72-132. The TSX Venture Exchange rose fractionally to 715 while polished diamond prices fell 0.25 per cent. Leni Keough's Olivut Resources Ltd. (OLV) jumped to an intraday high of 42 cents before closing up 2.5 cents to 35 cents on 295,000 shares. There is still no material news to account for a rally that began late last month at 15.5 cents. The surge appears the result of some kind words made in passing by veteran stock promoter -- and Olivut shareholder -- Pierre Lassonde.

Dermot Desmond and Patrick Evans's Mountain Province Diamonds Inc. (MPV), down six cents to $6.30 on 167,000 shares, expects to start mining this fall at its $1.08-billion (U.S.) Gahcho Kue project. (The company and its co-venturer, De Beers Canada, expect commercial production early in 2017.) The mine has an estimated life of 12 years, based on a reserve of 55.5 million carats spread across the 5034, Hearne and Tuzo pipes, but Mountain Province and De Beers believe a significant inferred resource deep within Tuzo could lengthen its life.

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