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Diamond & Specialty Minerals Summary for Nov. 6, 2024

2024-11-06 17:32 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a bleak 57-104-109 as the TSX Venture Exchange fell one point to 602. Ewan Mason's Star Diamond Corp. (DIAM) continues to be trapped at its all-time low, closing unchanged today at 3.5 cents on 135,000 shares.

Marc Branson's Protium Clean Energy Corp. (GRUV) closed unchanged at 7.5 cents on 349,000 shares. The company, Weekapaug Lithium Ltd. until today, has continued its diversification with today's name change. (The Protium ticker remains GRUV -- perhaps for sentimental reasons, as it had nothing to do with the Weekapaug moniker, nor did it have anything in common with the cash shell, Eagle I Capital Corp., that Weekapaug had used to go public in early 2023.) The ticker aside, Mr. Branson, chief executive officer, says the new name "better reflects the company's mission of clean energy exploration."

One might question why the company would scrap the word lithium while it is engaged in the pursuit of clean energy but remember that it recently began to segue its promotion toward hydrogen. (What could be cleaner than something that burns into water?) Mr. Branson and his crew now gush that Canada -- they really mean their company -- "has an opportunity to become a significant global player in clean energy through effective and efficient exploration for the metals, minerals and gases required for the new economy."

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