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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a cheering 83-54-125. The TSX Venture Exchange gained 11 points to 773 while polished diamond prices were flat. Matt Manson's Stornoway Diamond Corp. (SWY) was stronger to start the new year, gaining five cents to $1.05 on 1.57 million shares. The stock, $1.34 in October, dipped to a low of 91 cents just before Christmas, but things are looking up as the company's Renard mine in Quebec has reached commercial production.

Chuck Fipke and Chad Ulansky's Metalex Ventures Ltd. (MTX), unchanged at 5.5 cents on 210,000 shares, has sold 4.76 million flow-through shares at five cents, raising $238,000. Mr. Ulansky, Metalex's president and chief executive officer, says the cash is for exploration on the company's project in the James Bay region of Quebec. Based on Metalex's recent spending habits, the cash raised could see the company through the year and into 2018: Although Metalex has now spent over $8-million on the Quebec project since it began, it has spent less than $200,000 annually over the past few years. More than half the recent expenditures went to collecting and processing till samples for indicator minerals.

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