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by Will Purcell
The diamond and specialty minerals stocks box score for Wednesday was a discouraging 52-99-143. The TSX Venture Exchange fell five points to 783 while polished diamond prices were flat. Ken MacNeill and George Read's Star Diamond Corp. (DIAM) lost one-half cent to 20.5 cents on 790,000 shares. The stock has been more active than normal since mid-April, but as aperennial 20 center it continues to go nowhere.
Dermot Desmond and David Whittle's Mountain Province Diamonds Inc. (MPVD), down six cents to $3.09 on 307,000 shares, had a solid first quarter at its 49-per-cent-owned Gahcho Kue diamond mine, 250 kilometres northeast of Yellowknife in the Northwest Territories. The company and its majority co-venturer, De Beers Canada, processed 786,000 tonnes of kimberlite through the winter quarter, recovering 1.64 million carats, or 2.09 carats per tonne. The numbers suggest -- assuming the partners did not tweak the numbers for January and February -- that the grade rebounded sharply: During the first two months, the mine averaged 272,000 processed tonnes and it averaged 531,000 carats per month, or about 1.95 carats per tonne. Therefore, Gahcho Kue apparently recovered 579,000 carats from 242,000 tonnes of kimberlite during March, an average of nearly 2.40 carats per tonne.
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