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by Will Purcell

The critical and specialty minerals stocks box score on Monday was a positive 97-78-135 as the TSX Venture Exchange fell five points to 1,086. In for a penny, in for a pound, the cliche goes, and that was the case with Adam Lundin and Dr. William Lamb's Lucara Diamond Corp. (LUC) last week, when it decided that -- having already set course to heavily dilute its shareholders -- it may as well go all in with the financing. And so, what had been a plan to sell at least 437.5 million shares at 16 cents apiece has morphed into a sale of 1.03 billion shares, which would raise $165-million, not just the $70-million Lucara had sought just a few days earlier.

Dr. Lamb, president and chief executive officer, said that the decision to upsize the financing "reflects strong investor demand, led by the continued support of the Lundin family trusts." The cash -- more than double what Lucara initially sought -- will "meaningfully strengthen the company's capacity to advance the Karowe underground project and execute key development milestones targeted for 2026," Dr. Lamb enthused.

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