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Diamond & Specialty Minerals Summary for June 28, 2019

2019-06-28 19:36 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a rousing 86-51-157 as the TSX Venture Exchange rose five points to 585 and polished diamond prices dropped 0.3 per cent. Guy Bourassa's Nemaska Lithium Inc. (NMX) gained one cent to 26 cents on 1.26 million shares. The company's stock $2.44 in early 2018, has been zigzagging lower since then as construction of its Whabouchi lithium mine near Nemaska and a processing facility in Shawinigan is behind schedule and well over budget.

Dev Shetty's Fura Gems Inc. (FURA) has a well-heeled, bullish backer. Fura, unchanged at 16 cents on 649,000 shares, says that its $30.4-million private placement has closed oversubscribed, with the company selling 123.66 million shares at 25 cents, raising $30.9-million. There was only one participant -- Dubai-based Lord of Seven Hills Holdings FZE -- which is described as a marketing agent for supplying high-grade manganese ore that also has an investment division handling a diversified investment portfolio. (Its diversity apparently extends to gemstones.)

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