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Diamond & Specialty Minerals Summary for Nov. 22, 2016

2016-11-22 21:21 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a positive 72-67-126 although the TSX Venture Exchange fell 15 points to 732. Polished diamond prices inched higher. Matt Manson's Stornoway Diamond Corp. (SWY) lost four cents to $1.04 on 1.20 million shares. Stornoway is in Antwerp this week, holding the first sale of diamonds produced at its Renard diamond mine. Investors are optimistic and news is expected shortly.

Andre Audet's Majescor Resources Inc. (MJX), down one-half cent to seven cents on 139,000 shares, has acquired an option to buy 131 claims spanning 6,875 hectares in north-central Quebec. (Majescor agreed to pay Diagnos Inc. (ADK: $0.055) $50,000 in cash, issue 2.5 million shares and spend $300,000 on exploration.) Mr. Audet, Majescor's chief executive officer, says the claims were staked based on data from Diagnos's proprietary computer-aided resource detection system (CARDS), which apparently identified more than three dozen promising kimberlite targets on the claims.

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