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by Will Purcell

The critical and specialty minerals stocks box score was a pleasing 106-71-133 on Wednesday as the TSX Venture Exchange added 17 points to 995. Francis MacDonald's Li-FT Power Ltd. (LIFT) had a good day Tuesday, jumping 92 cents to $6.30 on 158,000 shares on word that shareholders of Australia-based Winsome Resources Ltd. have approved the proposed merger of the two companies. Winsome shareholders are to receive 0.107 of an Li-FT share for each of theirs, a hefty premium when the arrangement was revealed late last year. Court approval in Australia and "other conditions precedent" remain pending.

At the time the merger was revealed, Mr. MacDonald, Li-FT's president and chief executive officer, applauded the arrangement as "transformative for both companies and their shareholders." The combination with Winsome, and a concurrent acquisition of a 75-per-cent interest in the Galinee lithium project in Quebec, were deemed to be natural fits that would creates one of Canada's largest hardrock lithium developers, a move that "places Adina on an exciting path to potentially enhance its scale, resource profile and project economics in the near term."

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