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Diamonds & Specialty Minerals Summary for June 30, 2015

2015-06-30 20:58 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a positive 55-49-147. The TSX Venture Exchange gained four points to 671 while polished diamond prices inched higher. Frank Smeenk's Debut Diamonds Inc. (DDI) gained one-half cent to one cent on 19,000 shares. Debut, which has a diamond play near the Victor mine in Northern Ontario, has been silent since it issued 144 million shares to cancel a $1.44-million debt owed to Mr. Smeenk's KWG Resources Inc. (KWG: $0.02) in January. Paul Gorman's Great Lakes Graphite Inc. (GLK) fell one cent to eight cents on 1.22 million shares. The company recently produced a resource estimate for Lochaber, a graphite deposit in southwest Quebec. It also hopes to produce micronized graphite in Northern Ontario with ore it plans to buy from DNI Metals Inc. (DNI: $0.14).

Chris Taylor's Dunnedin Ventures Inc. (DVI), down 2.5 cents to six cents on 45,000 shares, plans to drill and bulk sample its Kahuna diamond project, north of Rankin Inlet, this year. Mr. Taylor, CEO, says Dunnedin has been "restricted by winter conditions" since it acquired Kahuna last October, but in his next breath he says the drilling will not occur until "after freeze-up." (Hopefully there will be enough time between the onset of winter and the restrictive winter conditions this year.) Mr. Taylor expects to have targets by then, as Dunnedin will start "field investigations and community consultations" in a few weeks. (Dunnedin is starting its "in-person consultations" with residents of Rankin Inlet and nearby Chesterfield Inlet now, because of Kahuna's advanced stage, and because the required chats can drag on for years.)

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