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Diamonds & Specialty Minerals Summary for Jan. 22, 2015

2015-01-22 18:53 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a poor 47-60-160. The TSX Venture Exchange fell fractionally to 678 while polished diamond prices inched lower. Robert Gannicott's Dominion Diamond Corp. (DDC) jumped 50 cents to $20.50 on 832,000 shares. Dominion has recovered most of the ground it lost when it dipped to $18.74 last week, down from the six-year high of $21.62 it set earlier this month. Aubrey Eveleigh's Zenyatta Ventures Inc. (ZEN) gained 16 cents to $1.67 on 176,000 shares. The stock, $1.33 a week ago, has been moving up without news. Zenyatta is plodding along with a dream sheet for its Albany graphite project in Northern Ontario.

Grenville Thomas and Ken Armstrong's North Arrow Minerals Inc. (NAR), unchanged at 55 cents on 177,000 shares, does not expect the results of its 1,500-tonne bulk sample of the Q1-4 kimberlite at Qilalugaq, near Repulse Bay in central Nunavut, until April. (The valuation of the diamonds will come later still, perhaps in the summer.) North Arrow's sample, which began as a 1,000-tonne test in July, wrapped up in August. The kimberlite went to Montreal by ship and from where it went by truck to a dense media separation plant in Thunder Bay. Mr. Armstrong, president and CEO, says over 750 tonnes has already been processed and diamond recovery from the resulting concentrate, which is taking place at a Stornoway Diamond Corp. (SWY: $0.52) facility in North Vancouver, is well under way.

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