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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a mediocre 72-85-153 as the TSX Venture Exchange rose one point to 847. Dr. Stewart Blusson's Archon Minerals Ltd. (ACS), unchanged at 15 cents on 1,500 shares when it last traded a board lot a week ago, is presumably watching events unfold at Ekati with concern. Ekati's current owner, Australia-based Burgundy Diamond Mines Ltd., put its new open-pit mine at Point Lake on care and maintenance in mid-July, citing weak rough diamond prices that are making it unprofitable.

Burgundy continues to run the Misery mine and the company still touts plans to reopen Point Lake once -- well, if -- the diamond market recovers. The company also plans to mine the remnant kimberlite at Fox by underground methods -- plans are cheap, remember -- which could conceivably keep Ekati running until 2040. Fox would kick in once Misery closes in 2027, while Point Lake -- this is just a plan, remember -- would resume production next year and wrap up in 2030.

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