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 Tuesday was a positive 48-44-160. The TSX Venture Exchange gained four points to 586 -- but not before it set another record low at 579.77. Polished diamond prices climbed 0.3 per cent. Patrick Evans's Mountain Province Diamonds Inc. (MPV), $5.46 in early June, fell another two cents to $4.37 on 22,000 shares. The decline, mirroring the recent slump of Dominion Diamond Corp. (DDC: $15.41), is the result of falling rough diamond prices. Although not yet a producer, Mountain Province and De Beers are busy building a big mine at Gahcho Kue in the Northwest Territories. Cristiano Melcher's MBAC Fertilizer Corp. (MBC) lost one cent to four cents on 6.25 million shares. The company owes over $265-million (U.S.) and hopes to avoid bankruptcy through a recapitalization.

Scott MacLean's Transition Metals Corp. (XTM), down one cent to nine cents on 10,000 shares, says Nunavut Resources Corp., a wholly-owned subsidiary of the Kitikmeot Inuit Association and Transition's co-venturer on a large land position in Nunavut, has approved a modest effort on Article 41, a 57,200-hectare diamond play north of Lac de Gras. (The bureaucratic name comes from a 1993 Canadian land claims settlement granting the locals mineral rights to some "Contwoyto Lake lands.") Mr. MacLean, president and CEO, says the bulk of the Article 41 lands have seen little exploration unlike most of the surrounding area, which was heavily explored in the 1990s and early 2000s.

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