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by Will Purcell
The diamond and specialty minerals stocks box score on Wednesday was a weak 59-86-155 as the TSX Venture Exchange rose fractionally to 610 while polished diamond prices edged lower. Patrick Godin's Stornoway Diamond Corp. (SWY) hit a new low today touching 7.5 cents before ending the day down one-half cent to 8.5 cents on 7.54 million shares.
Douglas Eaton and David Kelsch's GGL Resources Corp. (GGL), unchanged at 8.5 cents on 1,000 shares, is seeking $400,000 through the sale of regular shares at eight cents and flow-through shares at 10 cents. Each share will come with one warrant exercisable at 15 cents over three years. The cash is for exploration and development of the company's properties and for working capital. GGL reported over $250,000 in working capital at the end of November and it probably has much of it still on hand, as Mr. Eaton, chief executive officer, and Mr. Kelsch, president, boast that GGL has a "low burn rate."
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