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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a positive 89-63-158 as the TSX Venture Exchange added nine points to 576. Terry Tucker's halted and all-but-forgotten Southstone Minerals Ltd. (SML: $0.01) continues to recover diamonds and generate revenue at its Oena alluvial diamond operation in northwestern South Africa. The company recovered and sold 170 diamonds weighing 432.01 carats in its third quarter, which ran from March through May. The gems sold for $584,501, an average of $1.353 (U.S.) per carat, during the company's three tenders.

Most of the diamonds came from the Sandberg section of the project, with the rest mined in the Oena section. Several larger quality gems accounted for much of the revenue. A 34.56-carat gem sold for $75,000 (U.S.), about $2,170 (U.S.) per carat, while a 16.91-carat diamond fetched $60,500 (U.S.), nearly $3,600 (U.S.) per carat. A third diamond averaged the same across its 18.76-carat weight and combined, all three gems fetched $202,576, about 35 per cent of the total third quarter revenue.

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