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Diamond & Specialty Minerals Summary for Jan. 19, 2017

2017-01-19 21:16 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a mediocre 61-71-130. The TSX Venture Exchange gained one point to 793 while polished diamond prices gained 0.2 per cent. Matt Manson's Stornoway Diamond Corp. (SWY) lost one cent to 93 cents on 1.14 million shares. Stornoway is wrapping up its second sale of Renard diamonds in Antwerp this week.

Chris Taylor's Dunnedin Ventures Inc. (DVI) closed unchanged at 20 cents on 220,000 shares. The company is buoyed by the diamond counts from another batch of kimberlite scratched from the surface of the Notch dike last summer at its Kahuna diamond project, northeast of Rankin Inlet. The final of three batches of kimberlite weighed just 43.78 kilograms but it produced four diamonds larger than a 0.85-millimetre cut-off. Those gems weighed 0.43 carat, implying a "grade" of 9.78 carats per tonne. The first two batches of Notch kimberlite that Dunnedin processed this summer were less impressive, as 2.32 tonnes of kimberlite produced 85 diamonds weighing 1.95 carats, or 0.84 carat per tonne. The latest small sample does boost the cumulative grade above one carat per tonne, as the 2.36 tonnes produced 89 gems weighing a total of 2.36 carats, or 1.01 carats per tonne.

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