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Diamond & Specialty Minerals Summary for March 27, 2017

2017-03-27 21:17 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a poor 54-82-120. The TSX Venture Exchange rose fractionally to 804 while polished diamond prices fell 0.1 per cent. Merger and acquisition fever continued to drive Dominion Diamond Corp. (DDC) higher. It closed up 31 cents to $17.30 on 1.35 million shares.

Dr. Mark Bristow and Tjaart Willemse's Rockwell Diamonds Inc. (RDI: $0.06) has been hit with an interim liquidation order by a South African court. The liquidation order, yet to be confirmed in a final hearing, "does not affect Rockwell Diamonds," says Mr. Willemse, president and chief executive officer. (He is using the Howe Street version of "affect" as the order applies to three subsidiaries of Rockwell Diamonds: 100-per-cent-owned Rockwell Resources RSA Pty. Ltd., as well as HC van Wyck Diamonds Ltd., in which Rockwell Diamonds and Rockwell Resources hold a combined 76-per-cent interest, and Saxendrift Mine Pty. Ltd., in which Rockwell Resources holds a 76-per-cent interest. Those subsidiaries own the company's alluvial diamond mines along the Middle Orange River.)

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