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Diamond & Specialty Minerals Summary for Nov. 27, 2015

2015-11-27 21:07 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a 41-41-156 saw-off. The TSX Venture Exchange rose fractionally to 521 while polished diamond prices fell 0.3 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) fell two cents to 78 cents on 1.32 million shares after hitting an intraday high of 84 cents, just short of its 52-week high of 85 cents. Construction of the company's Renard mine in Northern Quebec is within budget and on schedule for a 2017 start-up. Aubrey Eveleigh's Zenyatta Ventures Ltd. (ZEN) closed unchanged at 74 cents on 174,000 shares. The company hopes to mine graphite at Albany, a lower-grade graphite project in Northern Ontario that it touts as a source of high-priced specialty graphite.

Robert Gannicott and Brendan Bell's Dominion Diamond Corp. (DDC) fell three cents to $11.03 on 148,000 shares. The company is transforming its Ekati mine from the aging operation that BHP Billiton sold for little more than its cash and inventory on hand in 2012 to a revitalized operation that could continue operations into the 2030s. Two of the old BHP digs, Koala North and Fox, wound down this year, resulting in reduced diamond production in the third quarter. The decline should be short lived, as two new pits are coming on stream.

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