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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a ho-hum 62-68-127. The TSX Venture Exchange fell five points to 774 while polished diamond prices edged lower. Patrick Evans and Dermot Desmond's Mountain Province Diamonds Inc. (MPVD) gained 15 cents to $3.83 on 200,000 shares. Investors are hopeful ahead of the company's first quarter financials, expected Wednesday.

Paul Brockington's Margaret Lake Diamonds Inc. (DIA), up one cent to nine cents on 65,000 shares, has begun work on the Diagras property, just northeast of Diavik. Margaret Lake earned a 60-per-cent interest in the property late last year from Patrick Power's Arctic Star Exploration Corp. (ADD: $0.235), posting a $200,000 bond with the Northwest Territories government to keep the project in good standing until late August. The two companies will cover their shares of the costs from here. Cash in the bank has been as rare as diamonds in the ground with both companies, so progress on their diamond ventures has been slow. Nevertheless, Mr. Brockington, Margaret Lake's president and chief executive officer, is offering five million flow-through shares at 10 cents to cover his company's share of the costs. Meanwhile, Mr. Power successfully sold 22.46 million shares at six cents, raising $1.34-million for its various programs.

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