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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a horrid 33-73-146. The TSX Venture Exchange fell four points to 698 while polished diamond prices were flat. Lukas Lundin's Lucara Diamond Corp. (LUC) lost eight cents to $1.85 on 782,000 shares. Lucara is reaping big profits from its Karowe mine in Botswana and has two new prospects nearby that it hopes to test later this year. Alexander Stewart's Xmet Inc. (XME) lost one-half cent to five cents on 777,000 shares. Xmet is drilling its Grasset gold play in northwestern Quebec and is still evaluating drill results from its Blackflake West project in Northern Ontario. Blackflake is a graphite prospect but Xmet's drilling hit, and Mr. Stewart is therefore touting -- sulphides.

Dr. Leon Daniels, Graham Warren and Rick Bonner's Pangolin Diamonds Corp. (PGD), down one-half cent to five cents on 22,000 shares, is enthused about four microdiamonds it has found in soil samples from its Malatswae prospect in Botswana. (Promoters often wax enthusiastically about minor events when faced with a big disappointment, such as Pangolin two-hole drill flop at Malatswae late last year.) Pangolin is doing its best to polish that failure, saying the tests have established the depth of the Kalahari sands atop the bedrock at 15 metres. (The market might care if either the sandy cover or the bedrock were worth anything.)

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