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Diamond & Specialty Minerals Summary for Feb. 21, 2017

2017-02-21 20:26 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a mediocre 76-84-96. The TSX Venture Exchange gained one point to 844 while polished diamond prices fell 0.1 per cent. Eric Friedland and Tom Peregoodoff's Peregrine Diamonds Ltd. (PGD) had one of its better days of the year, gaining two cents to 21 cents on 432,000 shares. There has been no news, but investors remain hopeful there will be word of some sort of deal that will allow the company to press ahead with its Chidliak diamond project without another dilutionary financing.

Michiel de Wit and James Bruchs's Tsodilo Resources Ltd. (TSD), up three cents to 95 cents on 5,000 shares, has started the preliminaries for bulk sampling at BK-16, a promising kimberlite pipe in Botswana that the company acquired in mid-2014 and that it has been promising to test ever since. Unfortunately, the actual bulk sampling will not start until mid-spring, as Tsodilo is first drilling pilot holes to ensure that the kimberlite it has modelled to be present is in fact there. Mr. de Wit, president, suggests it could be nearly two months more before the bulk sampling starts, after the 3,000 metres of smaller core drilling is completed.

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