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Diamond & Specialty Minerals Summary for Dec. 5, 2016

2016-12-05 20:32 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a mediocre 60-78-128. The TSX Venture Exchange gained one point to 751 while polished diamond prices fell 0.6 per cent. Ken MacNeill and George Read's Shore Gold Inc. (SGF) did not get a bounce following its trip to the Mines and Money dog and pony show in London, and it was probably an expensive trip. The stock, looking much like a tired nag these days, lost one cent to 18 cents on just 58,000 shares.

Jim Greig's Crystal Exploration Inc. (CEI), down one-half cent to 14 cents on 1,000 shares, is seeking $600,000, mainly for its diamond projects in western Nunavut. The company is offering 2.73 million shares at 11 cents and 2.22 million flow-through shares at 13.5 cents in two offerings. Mr. Greig, president and chief executive officer, says the hard dollars are for acquisitions and working capital, while the flow-through cash will be spent on Crystal's Muskox, Contwoyto and Hood River projects. (Crystal acquired the three prospects in early 2015 as the key to Mr. Greig's resurrection of what was then Trigold Resources Inc.)

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