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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a mediocre 83-86-141 as the TSX Venture Exchange fell four points to 556. Chuck Fipke and Chad Ulansky's long-lived but short on news diamond explorer Metalex Ventures Ltd. (MTX) bumbled along unchanged today at 2.5 cents on 61,000 shares. The stock traded as high as $5.60, you may remember -- although if you do, your hair is greying if not already white, as that was in 2002. (It also was several years before a 1:10 consolidation bumped that high to an equivalent of $56.)

Indeed, Metalex's longstanding run of disappointment has depressed the company's stock chart for so long and so deep that even the tenacious Mr. Fipke, one of Canada's first diamond explorers, has been turning to other commodities of late. From April through October, Metalex spent nearly $2-million on exploration -- a hefty increase over the $360,000 it spent in the same period a year earlier. In fact, one must go back to 2012 to find a bigger expenditure. (That year it spent $4.6-million from mid-spring to mid-fall, much of it on the Kyle Lake diamond misadventure in the Attawapiskat district of Northern Ontario.)

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