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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a positive 67-60-137. The TSX Venture Exchange gained three points to 776 while polished diamond prices jumped 1 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) closed unchanged at 76 cents on 708,000 shares. The company has been doing well at its Renard mine despite an abnormally high rate of diamond breakage that is limiting its average diamond price and hence its revenues. Work continues in an attempt to solve the problems.

Dermot Desmond and David Whittle's Mountain Province Diamonds Inc. (MPVD), down 17 cents to $4.29 on 142,000 shares, says it is making good progress in talks with its lenders. The company has been facing a cash crunch this year because of significantly lower than expected diamond prices from its share of production at the Gahcho Kue mine. That has forced it into seeking a series of waivers from its lenders regarding the requirement of maintaining a cash call reserve account of $27.9-million (U.S.). Mountain Province was to have put the cash in the account by the end of March. It has since received waivers delaying the requirement to the end of May, and then to the end of August.

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