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Diamonds & Specialty Minerals Summary for May 4, 2015

2015-05-04 20:51 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was an upbeat 53-42-152. The TSX Venture Exchange fell fractionally to 699 while polished diamond prices fell 0.1 per cent. Robert Gannicott's Dominion Diamond Corp. (DDC) hit a new seven-year high of $24.60 in intraday trading today before closing down 13 cents to $23.89 on 461,000 shares. Dominion has been beating production targets at Ekati, is doing well at Diavik and has major expansion projects planned for both mines. One, the huge Jay pipe, could keep Ekati running profitably into the early 2030s. The other, A-21, could keep Diavik producing at current rates well into the 2020s. Glenn Kelly's Orbite Aluminae Inc. (ORT) closed unchanged at 24.5 cents on 1.98 million shares. Orbite says it will have its three-tonne-per-day high-purity alumina plant on Gaspe peninsula in production late this summer. Meanwhile, nothing new has been heard of its $500-million plan for a smelter-grade plant in the same area. The latter plan was the impetus that carried Orbite's stock to $5.69 four years ago.

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