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by Will Purcell
The diamond and specialty minerals stocks box score on Thursday was a weak 63-89-158 as the TSX Venture Exchange fell five points to 527. Dermot Desmond and Mark Wall's Mountain Province Diamonds Inc. (MPVD) continues to struggle along, dropping one-half cent to 36.5 cents on 13,000 shares today.
Dr. Jamil Sader's Monumental Minerals Corp. (MNRL) fell one-half cent to 4.5 cents on 153,000 shares on its first assays from a maiden drill program at the Jemi rare earth project in Coahuila, Mexico. The results were anything but monumental, but they are a start, with the top hit showing 0.1 per cent total rare earth oxides (TREO) across 3.3 shallow metres. The assays, from a 14-hole, 2,000-metre drill program, generally yielded narrow, sub-one-metre intervals that graded between 0.1 and 0.2 per cent TREO.
Dr. Sader, chief executive officer, applauded the drilling at Jemi as "the first in the area" -- tests that targeted prospective areas based on surface geochemistry and aeromagnetic geophysics. He cheers an interpretation of the results as showing that "Jemi continues to be a highly prospective target for rare earth elements." The initial drilling "has proven very valuable in vectoring toward potential buried mineralization at Jemi," Dr. Sader concluded.
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Canada Lithium problems since day 1 have been the cost of electricity to create battery grade. Why do billions get given to big major mining companies? Because the seasoned mining people cut deals with government to get free energy. Even in BC, the Natural gas running through the pipeline is given away for free most days because there is no storage. Go and check Hydro Quebec and see how much of the transmission line energy is wasted because electricity cannot be stored--- big mining wheels can't figure that out and get it for free?
At the moment the world is buying 6% grade Lithium concentrate, or auction off lower grade material. The buyers are plants set up in some dirt hovels where electricity is free and kids running around everywhere barefoot, including their mommas.