To: MadDogMike who wrote (7672 ) 1/3/2014 7:24:34 AM From: Rocket Red Read Replies (1) | Respond to Diamonds & Specialty Minerals Summary for Jan. 2, 2014Dominion Diamond Corp. (DDC), $12.31 just three months ago, gained 17 cents to $15.39 on 153,000 shares. Dominion has a bold -- some say foolhardy -- plan to spend several hundred million dollars to mine Jay and Cardinal, two rich pipes in Lac du Sauvage. Mr. Gannicott thinks they could keep the Ekati mine running into the early 2040s. Paul Gill's Lomiko Metals Inc. (LMR), which inexplicably spiked to 18.5 cents from six cents last week, dropped one-half cent to 10 cents on 4.77 million shares. Lomiko is exploring its Quatre Milles graphite property but its promotion centres on producing graphene.Peregrine Diamonds Ltd. (PGD) closed unchanged at 57 cents on 95,000 shares. The company expects diamond counts from another 180 tonnes of CH-6 kimberlite shortly. Diamond valuations from the full parcel could be available a few weeks after that. Earlier results suggest the combination of grade and diamond value will show CH-6 is one of the richest kimberlites in the world. (Peregrine's enthusiastic retail shareholders are already clogging the Internet chat rooms like the days of yore.) The first 220 tonnes ran 2.7 carats per tonne and the 600-carat parcel contained plenty of quality white octahedral crystals -- so many so that Mr. Friedland posted a picture of his entire parcel. The gems included one fine yellow gem and investors, who squinted at the images for hours over the holiday season, decided some of the stones might be tinted pink, blue or even green. It seems reminiscent of the irrational exuberance of the pink-hued promotions of the mid-1990s, if not the Dutch tulip mania of the early 1600s, but veteran explorers know mines depend heavily on the value of white diamonds in their deposits. Fortunately, CH-6 seems likely to rank with the pipes of Diavik, Ekati and Gahcho Kue, which have some of the richest rock values in the world. If so, Peregrine's next challenge will be developing tonnage to support a mine. At last report CH-6 held just 5.7 million tonnes, but the company has several other pipes with potential grades of one carat per tonne that could quickly be put into a mine plan. Shear Diamonds Ltd. (SRM.H: $0.045), leaderless and suspended for a year, has responded to regulatory queries about its hastily shuttered Jericho mine. Finding someone to speak for the company has been difficult: its offices are closed and Ms. Lassonde, her officers and all but one director resigned late in 2012. (The remaining director is Manuel Rappaport, a consultant for Tache Co., a major Shear creditor.) Shear's letter to the Nunavut Impact Review Board came from Thomas Pladsen, acting as the company's chief restructuring officer. He says Shear is trying to raise cash to reopen the mine but its efforts were derailed when the Canadian government took control of Jericho. Mr. Pladsen's response caught officials with both the NIRB and Aboriginal Affairs and Northern Development Canada off guard. The federal bureaucrats say they have been to the site to do monitoring and some minor work to ensure the environment was not damaged, but both levels of government insist Shear still has control of -- and responsibility for -- Jericho. The Canadian government is holding roughly $8-million in cash and securities put up by Shear as a security deposit, but that is undoubtedly well short of what it would cost to clean up the site. Further, Shear is apparently short $2-million of making a full deposit. Jericho already experienced one big bust. Tahera Diamond Corp. which discovered Jericho and spent $200-million building and briefly running the mine, went bankrupt in
