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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was an upbeat 96-78-136 as the TSX Venture Exchange rose seven points to 534. Richard Mazur's Forum Energy Metals Corp. (FMC) rose one cent to 14 cents on 917,000 shares. The company has closed its placement of 48.65 million flow-through shares at 18.5 cents and 11.37 million regular shares at 12 cents, raising $10.36-million. In November, the company said it was offering 40.54 million of the charity flow-through shares and 12.5 million regular shares, so the result is a slightly oversubscribed placement.

The bulk of the cash, says Mr. Mazur, president and chief executive officer, is for further exploration at its Nunavut Uranium Project (NUP) properties, about 100 kilometres west of Baker Lake in the Thelon basin of Nunavut. The 53,400-hectare property is deemed "highly prospective" by Mr. Mazur, as the company points to significant uranium mineralization discovered by Cameco Corp. in a four-year stretch starting in 2008.

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