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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a poor 48-74-142. The TSX Venture Exchange lost five points to 773 while polished diamond prices edged upward. Eric Friedland and Tom Peregoodoff's Peregrine Diamonds Ltd. (PGD) gained one-half cent to 12.5 cents on 804,000 shares. The company continues resource expansion drilling at CH-6, its top kimberlite at Chidliak, on Baffin Island. Results so far have been encouraging.

A year ago, the Athabasca district diamond play in northwestern Saskatchewan was shaping up as an exciting area play. Now, what was briefly Canada's most promotable greenfield diamond district appears to have vanished. Peter Dasler's Canalaska Uranium Ltd. (CVV), which closed unchanged at 38.5 cents on 34,000 shares today, roared as high as $1.55 a year ago after it acquired a series of claims in the area based on geophysical targets that resembled kimberlites, then promptly landed De Beers Canada as a partner. Now the company is willing to pass off the project to anyone willing to pay for further work.

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