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Diamonds & Specialty Minerals Summary for Oct. 28. 2014

2014-10-28 19:10 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a negative 45-59-167. The TSX Venture Exchange fell two points to 788 while polished diamond prices were flat. Lukas Lundin's Lucara Diamond Corp. (LUC) fell four cents to $2.23 on 327,000 shares. Lucara sold $50-million worth of special diamonds from Karowe recently, bringing its yearly revenue from special gems to $136-million. Lucara should have little trouble hitting its expanded 2014 total revenue target of $250-million. Paul Gill's Lomiko Metals Inc. (LMR) lost one-half cent to seven cents on 404,000 shares. The company, which alternates its promotion between graphite exploration and graphene research, chose a twist on the latter this week. Mr. Gill says Lomiko has a licence to manufacture and sell three power converter system designs, acquire a pending supply contract and support research and development of new products. It is a new spin on Mr. Gill's old promotion and perhaps why Lomiko's stock is getting harder to lift.

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