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by Will Purcell
The diamond and specialty minerals stocks box score on Wednesday was a mediocre 66-77-157 as the TSX Venture Exchange fell four points to 596 and polished diamond prices edged lower. Don Bubar's Avalon Advanced Materials Inc. (AVL) rose one-half cent to 10.5 cents on 8.29 million shares. The company has had nothing to say in nearly two months, but its stock has traded frantically in spurts since mid-May. The stock doubled to 9.5 cents on 20.5 million shares on May 21, and it got as high as 17.5 cents at the end of May as nearly 67 million shares traded in a three-day period. It has since been retreating but interest remains high, with retail investors thinking that the company's Nechalacho rare earth project in the Northwest Territories is a worthwhile gamble given the growing trade spat with China.
Dean Taylor's Diamcor Mining Inc. (DMI) lost one-half cent to 15 cents on 7,000 shares. The company sold another 1,648.78 carats of diamonds recovered during "continuing processing exercises" at its Krone-Endora at Venetia project in South Africa. Diamcor's gems sold for $143.50 (U.S.) per carat, one of its weakest sales in the past few years. Mr. Taylor, president and chief executive officer, said that the poor result was in part attributable to the goods being tendered in South Africa and a higher proportion of smaller, lower quality gems.
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