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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a middling 84-72-154 as the TSX Venture Exchange rose four points to 791. Just when we thought we were out, the rough diamond gloom pulls us back in. Jeremy King's Australia-based Burgundy Diamond Mines Ltd. called a halt pending news Tuesday -- or was it yesterday, one never knows with Australia. The coming news pertained to the company's Ekati operation, and it was certain to be bad, given that crews in Yellowknife were frantically told not to fly to the site as scheduled.

The news came today and yes it was bad. Burgundy is putting its Point Lake open-pit mine on care and maintenance because continued weak rough diamond prices make it unprofitable. The decision to "temporarily suspend" mining at Point Lake -- the kimberlite discovery that triggered Canada's diamond rush 35 years ago -- was assuaged a bit by word that underground mining at the richer Misery kimberlite would continue.

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