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Diamond & Specialty Minerals Summary for Sept. 20, 2016

2016-09-20 21:04 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 56-70-139. The TSX Venture Exchange gained one point to 803 while polished diamond prices slumped a full percentage point. Dominion Diamond Corp. (DDC) had its second good day in a row, gaining 22 cents to $11 on 561,000 shares. It last had two gains in a row in mid-August.

Dr. Rory Moore and Dermot Desmond's Kennady Diamonds Inc. (KDI), down two cents to $4.03 on 4,000 shares, has the results of its bulk sample taken from the north lobe of the Kelvin kimberlite at Kennady North, 10 kilometres north of Gahcho Kue in the Northwest Territories. The 612-tonne test yielded 1,278 carats of diamonds larger than a 0.85-millimetre cut-off, for a grade of 2.09 carats per tonne. Dr. Moore, president and chief executive officer since May, points out that the result is very similar to the 2.02-carat-per-tonne grade obtained from a 442.5-tonne test of the southern lobe of Kelvin.

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