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Diamond & Specialty Minerals Summary for Jan. 31, 2017

2017-01-31 21:00 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a positive 78-64-119. The TSX Venture Exchange gained five points to 807 while polished diamond prices inched higher. Matt Manson's Stornoway Diamond Corp. (SWY) slipped one cent to 85 cents on 1.40 million shares. There has been no news yet about the company's second sale of diamonds from its new Renard mine in Quebec and investors are getting jittery.

Dominion Diamond Corp. (DDC), down 22 cents to $13.03 on 228,000 shares, is seeking a new chief executive officer after Brendan Bell, CEO since late 2014, decided to step down at the end of June. Mr. Bell was appointed CEO on an emergency basis after the company's most successful CEO, Robert Gannicott, was stricken with leukemia. (Although Mr. Gannicott recovered sufficiently to return as chairman, he succumbed to the disease last summer.) Mr. Gannicott, who moved to Canada from the United Kingdom in the late 1960s, initially settled in Yellowknife for a few years. He returned to the city for good in 2013, when he relocated Dominion's head office there from Toronto.

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