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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a weak 51-85-129. The TSX Venture Exchange fell three points to 766 while polished diamond prices edged higher. Nicholas Houghton's True North Gems Inc. (TGX) lost one cent to seven cents on 482,000 shares. The company's stock began the year near its one-year high of 20 cents. It is falling slowly but steadily as the days of summer drag on without word of the company's overdue completion of its Aappaluttoq ruby and sapphire mine in Greenland.

Matt Manson's Stornoway Diamond Corp. (SWY), down one cent to $1.14 on 889,000 shares, and Eric Friedland's Peregrine Diamonds Ltd. (PGD), down 1.5 cents to 21.5 cents on 378,000 shares, are rumoured to be potential buyers for De Beers Canada's Snap Lake diamond mine in the Northwest Territories. A "legal source familiar with the matter" dropped those names to Reuters late last week after De Beers Canada said it would entertain offers for the troubled mine, although "the level of interest is unclear," says the unnamed lawyer. Indeed, it is not at all clear why Stornoway, Peregrine -- or any other diamond company -- would be interested in relieving De Beers of its big problem.

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