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Diamonds & Specialty Minerals Summary for Dec. 17, 2014

2014-12-17 19:04 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was an upbeat 64-41-161 as the TSX Venture Exchange rebounded 16 points to 659, ending five consecutive days of new 15-year lows. Polished diamond prices fell nearly 0.5 per cent today and are off 7 per cent from their 2014 summer high. Ken MacNeill and George Read's diamond promotion, Shore Gold Inc. (SGF), gained 2.5 cents to 22.5 cents on 218,000 shares. Shore recently sold 14.6 million flow-through shares at 25 cents in a bought-deal financing. It hopes to sell another 12 million through the same placement to pay for a $6-million drill program at Orion South in central Saskatchewan. Akiko Levinson's Gold Canyon Resources Inc. (GCU) closed unchanged at 10 cents on 2.36 million shares. The company, "a unique mineral exploration company with a long history of exciting projects" in North America is touting a rare earth play in Malawi. Gold Canyon may not be unique or exciting but it is unusual for a Howe Street explorer: it had $2-million in working capital at last report.

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