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Diamond & Specialty Minerals Summary for Feb. 24, 2017

2017-02-24 20:53 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a mediocre 65-75-115. The TSX Venture Exchange lost three points to 836 while polished diamond prices edged higher. Dominion Diamond Corp. (DDC), $18.82 a year ago and nearly $14 two weeks ago, slipped another 28 cents to $11.50 on 542,000 shares. Weak rough diamond prices account for the slide.

Jim Greig's Crystal Exploration Inc. (CEI), unchanged at 13 cents on 31,000 shares, has recovered more diamonds from old core samples at its Muskox pipe in western Nunavut. The company tested 6.4 tonnes of old magmatic kimberlite core in early 2016, recovering 3.72 carats, or about 0.58 carat per tonne. It has now processed the rest of the magmatic core left behind by the previous owner, the now bankrupt Tahera Diamond Corp. Another 15.91 tonnes produced 6.4 carats, or about 0.40 carat per tonne. In all, 22.35 tonnes averaged 0.45 carat per tonne. Crystal also processed 14.28 tonnes of old pyroclastic kimberlite core. It yielded 2.76 carats of diamonds, or 0.19 carat per tonne.

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