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by Will Purcell
The diamond and specialty minerals stocks box score for Tuesday was a discouraging 48-81-135. The TSX Venture Exchange lost three points to 817 while polished diamond prices edged lower. Dr. Leon Daniels's Pangolin Diamonds Corp. (PAN) gained one cent to 14 cents on 1.30 million shares. The company is drilling its Motloutse project and plans fall drilling at Malatswae, its two promising diamond plays in Botswana.
Brendan Bell's Dominion Diamond Corp. (DDC) lost 36 cents to $12.21 on 279,000 shares. The company says that after "buoyant market conditions" in the first quarter, rough diamond prices "stabilized" during the second. The company is long removed from Howe Street, but it still employs some of the promotional lingo: an increase of $10 (U.S.) per carat to $320 (U.S.) per carat for the Koala diamonds at Ekati and a similar increase to $170 (U.S.) per carat at Diavik's A-154 South pipe confirm the "buoyant" market, but a $5-per-carat decrease at A-154 South may not meet shareholders' definition of stability. In any case, rough prices remain up to 30 per cent below their peaks of five years ago.
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