This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a mediocre 44-49-158. The TSX Venture Exchange fell fractionally to 679 while polished diamond prices jumped 0.3 per cent. Nicholas Houghton's True North Gems Inc. (TGX) gained 1.5 cents to 14 cents on 1.09 million shares. The company is building a $25-million seasonal ruby and sapphire mine at Aappaluttoq in western Greenland. It should be complete just in time for the winter shutdown. Nikolas Perrault's Colt Resources Inc. (GTP) fell 2.5 cents to 21.5 cents on 509,000 shares. Colt has just issued 8.8 million shares for services rendered and to cancel debt. The shares were valued at between 13.54 cents and 24.5 cents; the reason for the difference is unknown. The company also hopes to raise $30-million over three years to expand its mineral hunt in Pakistan and the Middle East.

Patrick Evans's Kennady Diamonds Inc. (KDI), fell 20 cents to $4.81 on 5,000 shares, has two more long kimberlite hits at its Kelvin kimberlite at Kennady North, 250 kilometres northeast of Yellowknife and just 10 kilometres northeast of the rich Gahcho Kue pipes. Kennady has now drilled eight of a planned 20 holes in its current program. Seven of those tests, including the latest two, "confirmed the geological model." In other words, they did nothing to expand the estimated tonnage. Still, Mr. Evans has had ample opportunity to expand his estimate over the past two years. Kennady set out to delineate five million tonnes of kimberlite two years ago with its first drill program. It now projects Kelvin and the associated Faraday kimberlite complex with a combined 12 million to 15 million tonnes of kimberlite -- most of it in Kelvin.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS