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Diamond & Specialty Minerals Summary for Jan. 13, 2017

2017-01-13 17:49 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a rousing 77-47-138. The TSX Venture Exchange gained four points to 794 while polished diamond prices fell 0.15 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) lost three cents to 94 cents on 2.25 million shares. The company is holding its second sale of Renard diamonds in Antwerp this week. Michel Baril and Guy Bourassa's Nemaska Lithium Inc. (NMX) gained four cents to $1.50 on 2.31 million shares. The company is inching ahead with its plan for a lithium mine at Whabouchi, in north-central Quebec.

Patrick Power's Arctic Star Exploration Corp. (ADD), down one-half cent to 11.5 cents on 15,000 shares, has closed its long-running private placement. The company set out in mid-October to raise $1.2-million by selling 20 million shares at six cents. It managed to pull in nearly $1.35-million by selling 22.46 million shares, but it took three tranches to do so: one in mid-December, a second one two weeks later and a third this week. The company also raised $300,000 by selling five million flow-through shares, also at six cents. The latter cash is for a mothballed rare earth project in British Columbia. The rest is for developing existing properties, potential future acquisitions and working capital.

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