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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a positive 45-40-160. The TSX Venture Exchange rose fractionally to 534 while polished diamond prices slumped nearly 1 per cent. Despite the falling diamond prices, Matt Manson's Stornoway Diamond Corp. (SWY) traded to 87 cents today, its highest in nearly two years, before closing down one cent to 85 cents on 564,000 shares. The company is on schedule and below budget with its Renard diamond mine in Northern Quebec.

Patrick Evans's Kennady Diamonds Inc. (KDI) lost 13 cents to $2.85 on 32,000 shares. The company has been chasing a tonnage target that has grown to between 13 million and 16 million tonnes, most of it in the Kelvin kimberlite. Kennady Diamonds had expected to reveal its maiden resource estimate for the project this week, but the release has apparently been delayed by a month or two. The company has received a draft of the Kelvin report, but Mr. Evans, chief executive officer, says it is apparent that more time is required to complete work needed to capture the northern end of the North lobe of the pipe. Drilling last year produced a series of long drill hits farther north than had been expected, and the company estimates that the area could contain 20 per cent of the overall tonnage. Perhaps the draft document was not as optimistic; in any case Mr. Evans now says the estimate will now be revealed "during the second quarter."

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