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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a so-so 70-87-153 despite the TSX Venture Exchange slumping 19 points to 595. Dermot Desmond and Mark Wall's Mountain Province Diamonds Inc. (MPVD) closed unchanged at six cents on 301,000 shares. The company's stock remains close to its record low of five cents despite -- or because of -- some major financial moves. The arrangements required concessions from the major parties to the deals, but the alternative would be worse.

Mr. Wall, president and chief executive officer, was blunt: "The company is in serious financial difficulty," he acknowledged, adding that "without the refinancing transactions and additional working capital facility, its ability to continue as a going concern is in doubt." The current situation was especially acute, as the company's 49-per-cent-owned Gahcho Kue mine is in the midst of its annual resupply, when a year's worth of fuel and supplies must be trucked to the site.

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