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by Will Purcell
The diamond and specialty minerals stocks box score on Thursday was a positive 92-85-123 as the TSX Venture Exchange fell four points to 742. Rough diamond prices were unchanged last week, according to Paul Zimnisky's global rough diamond price index. The calculation, again adjusted based on new data from the past few months, shows that prices have reclaimed 3.4 per cent since they thudded to a 10-year low in early April -- a gaping pit 13 per cent below the brief upward tick that began the year.
Jim Cambon's Hudson Resources Inc. (HUD), down 1.5 cents to 11.5 cents on 13,000 shares, is reorganizing its debt. The company is giving up a 69-per-cent interest in Hudson Greenland A/S to its main lenders, Cordiant Capital Inc. and Romeo Fund Flexi and its affiliates, through equity-for-debt swaps. Nearly one-third of the $42-million (U.S.) in debt owed to the lenders through loan facilities is being converted into preferred stock. As well, the maturity date is being pushed out to early 2028 from mid-2025 and the first principal payments will not come due until early 2023, two years later than initially required.
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