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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a mediocre 44-46-158. The TSX Venture Exchange fell seven points to 690 while polished diamond prices fell 0.75 per cent. Eric Friedland's Peregrine Diamonds Ltd. (PGD) slipped again today, falling 1.5 cents to 29.5 cents on 1.07 million shares. The stock, 13.5 cents early this year, roared to a 38.5-cent high a week ago following some pleasing words from stock guru, John Kaiser, who has been a believer in Peregrine's Chidliak diamond play on Baffin Island for years. The recent decline seems the inevitable slump that follows one of the much-followed Mr. Kaiser's bursts of enthusiasm. Cristiano Melcher's MBAC Fertilizer Corp. (MBC) gained 1.5 cents to 12 cents on 7.46 million shares. The company is in financial trouble and lost $28.5-million (U.S.) last year, but investors now seem hopeful.

Adrian Lamoureux's 92 Resources Corp. (NTY: $0.025) intends to acquire "certain rights" in a diamond prospect in Finland, currently owned by a private company controlled by David Hodge, as a reverse takeover. The company's potential rights might be certain, but it is not at all clear if they will be significant: Mr. Hodge's company has also offered Dragon Diamond Ventures Ltd. the right to earn a 75-per-cent interest in the diamond property in exchange for $1.8-million in exploration. Mr. Lamoureux's 92 Resources can acquire whatever is left by issuing 10 million shares to the vendor, following a 1:3 consolidation.

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