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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a mediocre 78-96-126 as the TSX Venture Exchange slid 16 points to 907 while polished diamond prices were flat today. Grenville Thomas and Ken Armstrong's North Arrow Minerals Inc. (NAR), a slow trader but arguably the busiest Canadian diamond explorer left standing in a sector battered by pessimism on one hand yet experiencing 10-year highs for rough diamonds on the other, lost one-half cent to 10.5 cents on 177,000 shares.

North Arrow will be a big source of news over the next few months. Processing of the company's 2,000-tonne bulk sample of the Q1-4 kimberlite, just north of Naujaat in central Nunavut, is under way and Mr. Armstrong, president and chief executive officer, says that initial results are perhaps a few weeks away. Those results could go a long way toward advancing the project to its ultimate test -- a 10,000-tonne bulk sample -- but investors expecting healthy grades in the current program will be disappointed as that is not the purpose of the program, says Mr. Armstrong.

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