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by Will Purcell

The diamond and specialty minerals stocks box score for Friday was a mediocre 65-70-121. The TSX Venture Exchange rose two points to 803 while polished diamond prices edged upward. Dominion Diamond Corp. (DDC), front and centre in merger and takeover ruminations, gained another 12 cents to $16.99 on 710,000 shares.

Leni Keough's Olivut Resources Ltd. (OLV), unchanged at 18 cents on 1,000 shares, says a detailed exploration geophysical program and drilling are "planned as the next stage of exploration" at its HOAM diamond project, south of Great Bear Lake in the Northwest Territories. Ms. Keough, president and chief executive officer, says that the work is dependent on weather conditions and the availability of financing. The weather has been fine for the past few years, but Olivut's depleted treasury is the reason her comments about work at HOAM are now quarterly report boilerplate for Olivut.

Undaunted, Ms. Keough adds -- as she has every three months for the past few years -- that the work will place Olivut on a strong position when market sentiment improves and junior exploration drilling programs are actively supported. When Olivut's drill programs were last supported several years ago -- mainly by veteran stock promoter, Pierre Lassonde -- the company successfully drilled 29 kimberlites. Unfortunately, diamonds were few and far between. Since then, Olivut's work tapered off, first to geophysics, and now to "consulting and certain fixed costs."

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