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by Will Purcell
The diamond and specialty minerals stocks box score for Friday was a positive 92-82-116. The TSX Venture Exchange fell three points to 826 while rough diamond prices were flat. Dermot Desmond's Kennady Diamonds Inc. (KDI) dropped five cents to $2.95 on 16,000 shares. The company has agreed to a friendly takeover by Mr. Desmond's Mountain Province Diamonds Inc. (MPVD: $3.40) at one share for 0.975 of a Mountain Province share.
Bruce Counts's Lithoquest Diamonds Ltd. (LDI), down two cents to 33 cents on 224,000 shares, has recovered kimberlite indicators from its North Kimberley diamond project near the northern coast of Western Australia. The indicators came from composite rock samples weighing several kilograms each, collected nearly a year ago at four targets. All four tests produced indicators, which Mr. Counts says reinforce the prospective nature of the North Kimberley project. He says that it was remarkable to recover indicators at all four sites, given the heavily weathered state of the rock. He added that is encouraging -- a less enthusiastic term than remarkable -- that the indicators included grains originating within the diamond stability field. His comparative lack of promotional emotion could be the result of Lithoquest finding just a single diamond indicator at each of two sites and none at the other two.
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