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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 59-83-121. The TSX Venture Exchange fell nine points to 749 while polished diamond prices edged higher. Lukas Lundin's Lucara Diamond Corp. (LUC) gained eight cents to $3.49 on 1.66 million shares. The stock traded as high as $4.47 a month ago as investors anticipated the sale of an 1,109-carat diamond for something north of $70-million (U.S.). Unfortunately, no buyers were willing to pay the price and Lucara still has the gem.

Matt Manson's Stornoway Diamond Corp. (SWY) lost one cent to 95 cents on 1.06 million shares. The company said this week that over 97.4 per cent of its 90-cent warrants, issued two years ago as part of the company's big $944-million financing for its Renard diamond mine in Northern Quebec, were exercised by last Friday's deadline. The conversion of the 91.91 million warrants into new shares provided Stornoway with $82.72-million in cash. Stornoway's stock traded above $1 in mid-June but it gradually slipped during the past few weeks, dipping as low as 90 cents last Wednesday. It ended the week stronger, as nearly 14 million shares traded the following two days, enticing nearly all the holders to exercise their warrants.

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