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Diamond & Specialty Minerals Summary for Feb. 6, 2019

2019-02-06 19:18 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was an upbeat 87-69-145 as the TSX Venture Exchange fell fractionally to 620 and polished diamond prices were flat. Guy Bourassa's Nemaska Lithium Inc. (NMX) dropped one cent to 59 cents on 5.16 million shares. The company's construction crews are back building the big Whabouchi lithium mine in Quebec, but they are chowing down at a new spot after a cafeteria fire forced a brief halt to the work.

Glenn Kasner's RJK Explorations Ltd. (RJX.A), up one cent to 5.5 cents on 156,000 shares, is acquiring an option on a diamond project in Northeastern Ontario. To earn a 100-per-cent interest in the Bishop project, RJK must pay prospector Tony Bishop $50,000 in cash and issue one million shares initially, then make staged payments of $50,000 in cash and 1.5 million shares over a four-year period. The company must also spend $1-million on exploration over a four-year period. (If RJK completes its earn-in, Mr. Bishop will retain a 10-per-cent gross overriding royalty on diamonds and 1.5 per cent on other minerals.)

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