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Diamond & Specialty Minerals Summary for Feb. 2, 2016

2016-02-02 21:00 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a weak 29-42-165. The TSX Venture Exchange fell five points to 494 while polished diamond prices were flat. Eric Desaulniers's Nouveau Monde Mining Enterprises Inc. (NOU) lost two cents to 13 cents on 354,000 shares. The company is inching forward with a resource estimate and a planned dream sheet for its Matawinie graphite project in Quebec.

Chuck Fipke's Metalex Ventures Ltd. (MTX) closed unchanged at seven cents on 32,000 shares. Metalex spurted to a brief 10.5-cent high late last month, amid rumours the company was close to an agreement with the Attawapiskat and Marten Falls first nations that might allow the company to finally start a 10,000-tonne mini-bulk test of its U2 pipe, 60 kilometres west of De Beers's Victor diamond mine. A deal could still be tougher to finalize than the company would like, as at least one industry voice is urging the locals not to sign an agreement with Metalex.

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