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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a rousing 80-48-137. The TSX Venture Exchange gained 11 points to 796 while polished diamond prices fell 0.1 per cent. Patrick Power's Arctic Star Exploration Corp. (ADD) closed unchanged at 3.5 cents on 221,000 shares. The company has done little with its three diamond projects this year but that did not stop it from adding another prospect this week, the Diamond Dunes property in northwestern Saskatchewan.

Simon Tam and Denis Hayes's Gem International Resources Inc. (GI: $0.13) has sold 24.12 million shares at five cents. The placement took two tranches to complete, but was nearly fully subscribed. Mr. Tam, president, and Mr. Hayes, chief executive officer, set out in May to sell 24.5 million shares. Gem International needs the cash to cover $800,000 (U.S.) in payments over two years for 91.5 per cent of Global Gems International Ltd. Global holds a 45-per-cent interest in the Dala diamond project in Angola. Gem International must also issue five million shares to the vendor and contribute $5-million toward exploration expenditures, also over two years.

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