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The diamond and specialty minerals stocks box score for Wednesday was a 68-68-121 draw. The TSX Venture Exchange gained nine points to 783 while polished diamond prices inched upward. Ken MacNeill and George Read's Shore Gold Inc. (SGF) gained 2.5 cents to 24.5 cents on 1.21 million shares. The stock, stuck like glue for months to the 19-cent mark, broke through this week, hitting a one-year high today. There is no news to account for the move.
Matt Manson's Stornoway Diamond Corp. (SWY) lost three cents to 83 cents on 1.49 million shares on word that it has sold nearly 500,000 carats so far from its Renard diamond mine in the Otish Mountains region of Quebec. That was a bit more than initially forecast, although the company's revenues are significantly below its feasibility estimate. Nevertheless, Renard is generating solid cash flow despite the general malaise in the rough diamond sector and the usual teething problems with the new mine.
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