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by Will Purcell
The critical and specialty minerals stocks box score on Friday was a positive 98-84-138. The TSX Venture Exchange added six points to 874, but Rob Leckie's Future Fuels Inc. (FTUR) was not one of the gainers, as it slid 8.5 cents to 28.5 cents on 334,000 shares.
Future Fuels was halted late Thursday so investors could absorb news that the company is offering at least 6.25 million regular shares at 32 cents and flow-through shares at 38 cents, as it seeks up to $8-million on a best-efforts basis. The cash, the company says, is for exploration at the Hornby Basin uranium project in northwestern Nunavut, and at the Hatchet Lake project in northwestern Saskatchewan. As well, some of the hard dollars will cover general corporate expenses.
In June, Future Fuels touted results of an artificial intelligence aided mapping effort at Hornby Basin, which delivered "multiple high-priority exploration targets" including one -- Lambda -- that was deemed worthy of a name. (Since then, the company has been as quiet as a toddler coming across a pack of permanent markers.) Lambda, Future Fuels enthused, is a compelling new undrilled feature immediately south of the old Mountain Lake uranium system, about 95 kilometres southwest of Kugluktuk.
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