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Diamonds & Specialty Minerals Summary for Sept. 17, 2014

2014-09-17 19:16 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a disappointing 37-63-165. The TSX Venture Exchange fell three points to 972 while polished diamond prices jumped 0.4 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) closed unchanged at 58 cents on 2.53 million shares. The stock is trading at less than half its March high of $1.22 despite what Mr. Manson calls the "most impactful" quarter in its history. (He means the company's $945-million financing and start of construction at Renard in Northern Quebec.) Richard Schler and Craig Scherba's Energizer Resources Inc. (EGZ) slid two cents to 20 cents on 4.53 million shares. Energizer's stock jumped to 31 cents late last week on the heels of a heaping helping of gush disseminated by Globe Newswire, which touted the company's Molo graphite deposit in Madagascar as a supplier of the big battery factory that Tesla Motors will build in Nevada. Today, Energizer said it will sell 34.3 million shares at an unTesla-like 14 U.S. cents. (Tesla closed at $261.38 (U.S.).

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