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Diamond & Specialty Minerals Summary for May 3, 2016

2016-05-03 19:34 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 54-78-127. The TSX Venture Exchange fell eight points to 662 while polished diamond prices edged lower. Dermot Desmond and Patrick Evans's Kennady Diamonds Inc. (KDI), which inexplicably lost 24 cents yesterday, gained 29 cents to $3.70 on 160,000 shares today, also without benefit of any news. The company will be processing about 600 tonnes of kimberlite this year that it recovered from its Kelvin and Faraday pipes at Kennady North, 10 kilometres northeast of Gahcho Kue.

One of Howe Street's many diamond Rip Van Winkles, Randy Turner's Canterra Minerals Corp. (CTM), was down one-half cent to 3.5 cents on 23,000 shares. Canterra has emerged from a long slumber but promises another potentially sleep-inducing preliminary program on a few of its diamond prospects in the South Slave district of the Northwest Territories. The company plans ground geophysics on the Prism property, on the western shore of Lac Tete d'Ours -- Bear Head Lake -- on what was once Mr. Turner's prized Camsell Lake property. The work will cover the area where till sampling last year showed possible source areas of two kimberlite indicator mineral trains.

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