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Diamond & Specialty Minerals Summary for May 11, 2023

2023-05-11 20:47 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a bleak 67-106-137 as the TSX Venture Exchange fell five points to 615. Ian Harris's Libero Copper & Gold Corp. (LBC) fell 1.5 cents to 10.5 cents on 183 million shares. The company is working on initial design, engineering and financial modelling for its Mocoa porphyry copper-molybdenum project in Colombia. Mocoa hosts 636 million tonnes inferred at 0.33 per cent copper and 0.036 per cent molybdenum and Libero cheers copper as a strategic metal with a crucial role in green technologies.

Michael Gunning's VR Resources Ltd. (VRR) gained one cent to 20 cents on 256,000 shares. The company continues to buck the market mood as it looks to emerge as a new diamond explorer in Northern Ontario. The company has just closed a private placement, raising $1.88-million by selling nearly eight million flow-through shares at 16 cents and 4.3 million regular shares at 14 cents apiece. This was to have been a $2-million placement when the company began the sale in early April, and within two weeks it had sold all but the 1.27 million hard-dollar shares that were just sold in the final tranche.

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