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by Will Purcell
The diamond and specialty minerals stocks box score on Monday was a 92-92-116 draw as the TSX Venture Exchange fell fractionally to 902 while polished diamond prices inched higher. Warren Stanyer's ALX Resources Corp. (ALX) added two cents to 10.5 cents on 3.84 million shares. The company has begun prospecting and mapping at its Electra nickel, cobalt and copper project in Northwestern Ontario. Electra is northwest of the old Shebandowan mine that ran from 1972 to 1998, producing 9.3 million tonnes of ore grading 1.75 per cent nickel, 0.063 per cent cobalt and 0.88 per cent copper.
Patrick Power and Buddy Doyle's Arctic Star Exploration Corp. (ADD) dropped one cent to 12.5 cents on 1.13 million shares. Mr. Power, president and chief executive officer, and Mr. Doyle, his long-time vice-president of exploration, are cheering mineral chemistry analysis as being favourable for finding large diamonds within Sequoia, a big new kimberlite discovery on their company's Diagras project, northeast of Lac de Gras in the Northwest Territories. The two diamond enthusiasts deliver their enthusiasm with a side of fudge, stating that the analyses "demonstrate the existence of a number of indicator types that occur with diamonds and strongly suggest the presence of diamonds."
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