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by Will Purcell
The diamond and specialty minerals stocks box score for Monday was a weak 73-100-117. The TSX Venture Exchange fell three points to 765 while polished diamond prices were flat. Bruce Counts's Lithoquest Diamonds Inc. (LDI) slumped 23 cents to 62 cents on 818,000 shares. The stock, 25 cents late last month, soared as high as 88 cents last week on word that one of its upcoming drill targets had produced three tiny microdiamonds during tests of its kimberlite for indicator minerals.
Paul Brockington's Margaret Lake Diamonds Inc. (DIA), unchanged at 12 cents on 252,000 shares, says that "preparations are now under way" to start a drill program on its Margaret Lake diamond project, just northwest of Gahcho Kue in the Northwest Territories. Mr. Brockington, president and chief executive officer, says that the company has regulatory approval to proceed and the drilling will start before spring breakup:soon, in other words. It is unclear what has changed in the past month; Mr. Brockington said in mid-March that "preparations are now under way" for planning a drill program, adding that the company had its approvals in place.
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