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Diamonds & Specialty Minerals Summary for Aug. 25, 2015

2015-08-25 21:00 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a 42-42-167 saw-off. The TSX Venture Exchange reclaimed eight precious points to 526 while polished diamond prices inched downward. Robert Gannicott and Brendan Bell's Dominion Diamond Corp. (DDC) slumped $1.61 yesterday in a falling market; it fell again today despite today's rising tide, dropping another 43 cents to $14.86 on 350,000 shares. Investors are probably worried that rough diamond prices will collapse like they did late in 2008 during the last recession. Fortunately, rough prices appear to be holding their own -- for now. Bill Radvak's American Vanadium Corp. (AVC) gained one-half cent to 10 cents on 579,000 shares. The company has been silent since it hired a public relations firm in June -- not the best of promotional tactics.

Chad Ulansky and Chuck Fipke's Metalex Ventures Ltd. (MTX), unchanged at 5.5 cents on 298,000 shares, is offering up to five million flow-through shares at five cents. Mr. Ulansky, president, and Mr. Fipke, chairman, want the cash for their company's "exploration activities" in Quebec. Those activities, such as they are, include modest hunts for gold, base metals and diamonds on the same property in the James Bay region through joint venture arrangements with John Ryder's now dormant -- and probably defunct -- Dianor Resources Inc. and a local company controlled by the local Indians, Wemindji Exploration Ltd.

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