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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a 69-69-119 draw. The TSX Venture Exchange gained two points to 806 while polished diamond prices fell 0.2 per cent. Patrick Evans's Mountain Province Diamonds Inc. (MPVD) fell 21 cents to $4.32 on 741,000 shares. The company said yesterday that its Gahcho Kue diamonds will be selling for much less than expected this year.

Matthew Wood and Brian McMaster's Five Star Diamonds Ltd. (STAR) fell one cent to 31 cents on 200,000 shares. Yesterday was the first day of trading for what had been Peter Hinam's cash shell, Turquoise Capital Corp., which completed its reverse takeover of the private Five Star Diamonds this week. Turquoise issued 101.3 million shares to the private company's owners, including 33.9 million to R and R Venture Partners II LLC. It also sold 17.82 million shares at 30 cents, raising $5.34-million as a precursor to the qualifying transaction. (The placement exceeded the $4-million minimum by a comfortable margin, but fell short of the $6-million maximum.) Following the completion of the QT, Mr. Hinam and his associates resigned and Mr. Wood became president, chief executive officer and a director and Mr. McMaster became chief financial officer and a director. (Luis Azevedo, Gizman Abbas and Simon Rothschild were also appointed as directors.)

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