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by Will Purcell
The diamond and specialty minerals stocks box score for Wednesday was a bleak 58-91-128. The TSX Venture Exchange lost 12 points to 728 while polished diamond prices inched higher. Lukas Lundin's Lucara Diamond Corp. (LUC) traded briskly, dropping three cents to $2.10 on 1.53 million shares. There is no recent news. Trent Mell's First Cobalt Corp. (FCC) lost two cents to 44 cents on 2.98 million shares. The company had new assays from its Kerr project in Ontario earlier this week.
Eric Friedland and Tom Peregoodoff's Peregrine Diamonds Ltd. (PGD) closed unchanged at 17 cents on 63,000 shares. The company and its consultants, JDS Energy and Mining Ltd., believe that the Chidliak diamond project on southeastern Baffin Island "is of sufficient merit" to proceed to prefeasibility. (And, presumably, JDS Energy would love to do the work.) In making the recommendation, JDS pegged the cost of the study at $27-million, spread over two years. Unfortunately, which two years is uncertain: Peregrine does not have the cash to get started this year, and winter, or at least a blustery fall, is just a few months away.
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