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by Will Purcell
The diamond and specialty minerals stocks box score for Thursday was a weak 51-70-145. The TSX Venture Exchange fell fractionally to 749 while polished diamond prices edged lower. Dermot Desmond and Patrick Evans's Mountain Province Diamonds Inc. (MPV) closed unchanged at $6.61 on 317,000 shares. Investors are champing at the bit to learn the results of Mountain's first sale of diamonds from its Gahcho Kue mine in the Northwest Territories. The sale will occur in January. The company has hinted for years that it expects its run-of-mine prices to be significantly higher than its modelled price. Glenn Kelly's Orbite Technologies Inc. (ORT) closed unchanged at 27.5 cents on 736,000 shares. The company has been operating its new high-purity alumina plant for a few months and it hopes to have some finished product soon.
James Bruchs and David Cushing's Tsodilo Resources Ltd. (TSD: $0.80) is offering 10.8 million shares at 75 cents. If fully subscribed, the placement would raise $8.09-million. The cash is for work on the BK-16 kimberlite in Botswana and for working capital. (There is a pressing need for the latter, as Tsodilo had a working capital deficiency of $1.4-million (U.S.) at the end of September.) The company's previous placement occurred last spring, when it sold just over one million shares at 60 cents. Mr. Cushing bought nearly 650,000 of those shares.
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