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Diamond & Specialty Minerals Summary for May 19, 2017

2017-05-19 18:05 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a mediocre 60-69-128. The TSX Venture Exchange gained six points to 806 while polished diamond prices inched lower. Matt Manson's Stornoway Diamond Corp. (SWY) gained two cents to 84 cents on 809,000 shares. The company's production at Renard, in north-central Quebec is going well, but its rough diamond prices have been lagging.

Jim Gowans's Dominion Diamond Corp. (DDC), down four cents to $17.38 on 132,000 shares, has declared a maiden resource estimate for its Leslie kimberlite at Ekati. Leslie, a 25-year-old discovery, was among the first finds on the big property but it never advanced past the mini-bulk sampling stage because of its low grade and weak rock value. The big pipe is a few kilometres southwest of the higher-grade, high-value Koala pit and a few kilometres northeast of the low-grade, higher-value Fox open-pit mine. Unfortunately, Leslie appears to be a low-grade, low-value pipe.

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