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Diamond & Specialty Minerals Summary for April 27, 2017

2017-04-27 21:27 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a weak 55-76-126. The TSX Venture Exchange fell four points to 802 while polished diamond prices fell 0.1 per cent. Patrick Evans's Mountain Province Diamonds Inc. (MPVD) dropped another 35 cents to $3.97 on 405,000 shares, as a delayed reaction to the disappointing 2017 guidance for the new Gahcho Kue, which the company offered on Tuesday, continued to take its toll.

Paul Brockington's Margaret Lake Diamonds Inc. (DIA), down one-half cent to eight cents on 20,000 shares, will "focus its efforts to move forward" -- promotional bafflegab for "plodding along at a snail's pace," or maybe just "struggling to get started" at its Margaret Lake diamond project, just west of Gahcho Kue in the Northwest Territories. Mr. Brockington, president and chief executive officer, says that his crew have defined 12 drill targets, but they appear better described as geophysical targets, as they were identified on an airborne survey a few years ago and are now slated to receive a ground geophysical examination.

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