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Diamond & Specialty Minerals Summary for Sept. 28, 2016

2016-09-28 21:05 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a mediocre 65-68-130. The TSX Venture Exchange gained six points to 801 while polished diamond prices inched higher. Matt Manson's Stornoway Diamond Corp. gained four cents to $1.18 on 3.06 million shares. Shareholders are optimistic that the company's first sale of diamonds from its new Renard mine in Quebec will yield good news. Larry Reaugh's American Manganese Inc. (AMY) gained two cents to 16.5 cents on 2.80 million shares. The company is promoting plans to recycle lithium batteries.

Paul Brockington's Margaret Lake Diamonds Inc. (DIA), up 6.5 cents to 19 cents on 5.82 million shares, has finally closed its acquisition of a remaining 40-per-cent interest in the Margaret Lake diamond project, northwest of Gahcho Kue in the Northwest Territories. The company issued 4.5 million shares on closing. Another 1.5 million must be delivered in December and a further one million must be issued if the company completes a bulk sample of a kimberlite on the property. The closing comes just days after the company abandoned its option on Marlin, a property adjoining Margaret Lake.

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