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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a mediocre 83-99-128 as the TSX Venture Exchange fell three points to 622. Ken Armstrong and Grenville Thomas's North Arrow Minerals Inc. (NAR) ended June down one-half cent to six cents on 139,000 shares and has not traded since. Just when you thought it was out, the Lac de Gras (LDG) diamond project in the Northwest Territories pulls the company back in. This time, however, diamonds will be an afterthought at best.

North Arrow and Arctic Canadian Diamond Co. have terminated their joint venture on the sprawling property south of Lac de Gras, with North Arrow assuming control and ownership of the property. The property pickup might raise an eyebrow or two at first glance since LDG has been a diamond play for a generation, while North Arrow has amended its "all-about-us" boilerplate to all but eliminate mention of diamonds.

Gems faintly sparkle at the end of the lengthy spiel, but only in an "also owns" addendum that translates to "we have not dropped them yet." In fact, Mr. Armstrong, North Arrow's president and chief executive officer, soured on LDG diamonds in 2016, electing to dilute North Arrow's interest rather than meet its partner's cash calls covering more work. He now gets it all back, but for its lithium potential.

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