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by Will Purcell
The diamond and specialty minerals stocks box score for Tuesday was a horrid 44-108-138. The TSX Venture Exchange fell 14 points to 769 while polished diamond prices were flat. Guy Bourassa's Nemaska Lithium Inc. (NMX) dropped 13 cents to $1.12 on 4.81 million shares. The company is seeking up to $825-million (U.S.) in financing for its lithium mine at Whabouchi in central Quebec and a processing plant in Shawinigan. The company has a tentative deal, or is in advanced discussions, to borrow up to $500-million (U.S.). It is seeking the rest through private or public equity or debt offerings.
Bruce Counts's Lithoquest Diamonds Inc. (LDI), unchanged at 60 cents on 1.95 million shares, has its first diamonds from one of four targets it has been investigating on its North Kimberley diamond project, near the north coast of Western Australia. Mr. Counts, a geophysicist who joined Canada's diamond hunt early on, requested a halt to reveal that a 10-kilogram batch of kimberlite from the 0702 target had produced three small microdiamonds. (The old-style promotional tactic -- a multiday halt to inflate the modest news -- produced an old-style reaction among investors: Lithoquest's stock jumped 36 cents to 60 cents on 2.95 million shares in an abbreviated session Monday.)
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