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Diamond & Specialty Minerals Summary for June 23, 2016

2016-06-23 21:13 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a 55-55-156 draw. The TSX Venture Exchange gained one point to 710 while polished diamond prices rose 0.4 per cent. Dr. Leon Daniels's Pangolin Diamonds Corp. (PAN) gained one-half cent to 17 cents on 209,000 shares. The company plans drilling at two of its diamond prospects in Botswana. The company has found several diamonds in soil samples, but has yet to find a kimberlite source.

Randy Turner's Canterra Minerals Corp. (CTM), down one-half cent to 5.5 cents on 43,000 shares, has acquired an option on the CL-25 property in the South Slave district of the Northwest Territories from Yellowknife-based prospector, Mike Magrum. Canterra can acquire a 60-per-cent interest for $35,000 in cash, 400,000 shares and an exploration expenditure of $1-million over three years. It can increase its share to 70 per cent for another $100,000 in cash, 500,000 shares and another $1-million in exploration over the following two years. Mr. Magrum will also hold a 3-per-cent gross-overriding royalty on any diamond production.

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