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by Will Purcell
The diamond and specialty minerals stocks box score for Monday was a pleasing 86-55-149. The TSX Venture Exchange rose eight points to 659 while polished diamond prices were flat. Grant Ewing's New Energy Minerals Corp. (ENRG) gained two cents to eight cents on 2.45 million shares. The company, which has been busy with a slow-motion reorganization of its management this year, is touting lithium, cobalt and copper projects in Chile.
Andrew Smith's True North Gems Inc. (TGX), unchanged at five cents on an odd-lot of 18 shares, has sold five million of its recently consolidated shares at five cents, raising $250,000 of the $750,000 it is seeking. Mr. Smith, a company co-founder and its interim chief executive officer, says that True North "plans to close on additional tranches in the coming weeks." The placement will help the company resurrect itself from a Greenland debacle, in which True North pushed the Aappaluttoq ruby and sapphire project from exploration to near completion, only to have its minority co-venturers snatch it away two years ago through a bankruptcy procedure that still has Mr. Smith and his crew grumbling -- and lawyering.
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