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by Will Purcell
The diamond and specialty minerals stocks box score on Wednesday was a poor 53-131-116 as the TSX Venture Exchange fell 21 points to 917 but polished diamond prices added 0.2 percent. Trent Mell's First Cobalt Corp. (FCC) closed unchanged at 32 cents on 2.89 million shares. The company said earlier this week that it had nearly $62-million in working capital at the end of September. Now it is offering securities worth up to $70-million under a base shelf prospectus in support of its cobalt refinery in Northeastern Ontario.
Dermot Desmond's Mountain Province Diamonds Inc.(MPVD) fell three cents to 61 cents on 116,000 shares. The company has upped the ante on its stalled Kennady North diamond promotion, acquiring three new claims by staking ground that had recently come open. The new ground, oriented north-to-south just west of the company's 49-per-cent-owned Gahcho Kue mine, 250 kilometres northeast of Yellowknife, had come open when claims held by Margaret Lake Diamonds Inc. (DIA: $0.18) lapsed in late October.
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