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by Will Purcell
The diamond and specialty minerals stocks box score for Tuesday was a discouraging 60-104-126. The TSX Venture Exchange fell 13 points to 802 while rough diamond prices remained flat this week. Terry Tucker and Samer Khalaf's Tango Mining Inc. (TGV) gained one-half cent to 3.5 cents on 3.64 million shares. Tango and the private Bluedust 7 hope to mine Tango's Oena alluvial deposit in South Africa.
David Whittle's Mountain Province Diamonds Inc. (MPVD), down two cents to $3.27 on 88,000 shares, earned just over $17-million during 2017, its first year of commercial production at is 49-per-cent-owned Gahcho Kue mine, 250 kilometres northeast of Yellowknife in the Northwest Territories. The result was mildly encouraging, although it was burnished by a $30-million foreign exchange gain -- an accounting artifact generated from the erratic pinches and swells in the company's U.S.-denominated debt and other accounts that are based in U.S. currency. Nevertheless, Mountain Province ended 2017 with $36.3-million more cash than it began the year with, a pleasing outcome -- pleasing, that is, relative to the currently depressed state of the diamond sector and not the rosy view expressed in the company's 2014 feasibility study.
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