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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a positive 90-79-141 as the TSX Venture Exchange added four points to 537. Brad Humphrey's Manitoba nickel explorer, Nican Ltd. (NICN), was a busy trader today, as it added one cent to five cents on 4.3 million shares.

Dean Taylor's Diamcor Mining Inc. (DMI) fell one cent to 8.5 cents on 46,000 shares. The company is looking to invest in more upgrades to its Krone-Endora at Venetia diamond mine in South Africa thanks to a planned $5-million term loan financing. The unsecured term loans will bear interest at a hefty 10-per-cent annual rate, payable at the end of the first and second year, with the principal and final year's interest due at the end of the third year.

The debt financing will nevertheless add dilution to the company's existing shareholders, as the participants will get one common share for each dollar lent -- five million shares in all. Further, the lenders will get a three-year warrant, exercisable at 25 cents per share, for each dollar invested, theoretically adding a further five million shares to Diamcor's tally. (The good news is that the warrants, if fully exercised, would bring in another $1.25-million. Better yet, the exercise would be proof that Diamcor's expansion plan succeeded in elevating the company's earthbound stock.)

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