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Diamond & Specialty Minerals Summary for May 22, 2024

2024-05-22 17:05 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a bleak 59-119-132 as the TSX Venture Exchange fell nine points to 611. Lars-Eric Johansson and Eric Krafft's Leading Edge Materials Corp. (LEM), up one cent to 10 cents on 2,000 shares, has found a new chief executive officer. The new man, Kurt Budge, will take the spot held by Mr. Krafft on an interim basis. The move was overdue, as Mr. Krafft, a director of Leading Edge since 2020, stepped in as the supposedly short-term replacement when Filip Kozlowski resigned two years ago.

Mr. Budge is predictably "very excited" about joining Leading Edge Materials. He points to the European Union needing to secure a supply of critical raw materials -- commodities that the company just might be able to provide. (Or as Mr. Budge puts it: The EU "supports the establishment of new mines on the continent," and his company's assets in Sweden and Romania are "incredibly well positioned.")

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