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by Will Purcell
The diamond and specialty minerals stocks box score on Friday was an upbeat 79-58-163 as the TSX Venture Exchange closed unchanged at 589 while polished diamond prices were flat. Trent Mell's First Cobalt Corp. (FCC) gained 1.5 cents to 17 cents on 3.4 million shares. The company is plodding ahead with its plan to revive and expand production at a cobalt refinery in Northeastern Ontario.
Leni Keough's Olivut Resources Ltd. (OLV) gained one-half cent to seven cents on 30,000 shares. The company is unpromotably quiet, but deep within its latest quarterly report, Ms. Keough reveals that "a reverse circulation drill program is currently under way" at the Seahorse diamond project, north of Great Bear Lake in the Northwest Territories. Olivut can earn a 50-per-cent interest from Dr. Ray Davies's Talmora Diamond Inc. (TAI: $0.025) in exchange for $1.2-million in exploration expenses over a two-year period. Those two years run out early next summer, and while the company spent about $500,000 through the end of July, much of went to sitting around in the Seahorse base camp, waiting for good weather.
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