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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a positive 87-66-157 as the TSX Venture Exchange rose eight points to 607. Marc Roy and Jeffrey York's Focus Graphite Inc. (FMS) closed unchanged at 7.5 cents on 22,000 shares on word it has finally closed the private placement it launched in late September. At the time the company was offering four million shares at 7.5 cents apiece, but a few days later, Mr. York, chairman, and Mr. Roy, chief executive officer, enthusiastically boosted the placement to $500,000. A few days after that, they raised the offering to $525,000.

The first $400,000 came easily, as Focus sold 5.33 million shares by mid-October, but it took another five weeks to sell another 700,000 shares. And so, the company managed to raise a total of $452,000 from the placement -- handily above its initial ask, but significantly less than the amount of both increases. Focus says that it needs the cash "to maintain the company's existing operations" and for general working capital requirements. (If there is a difference between the two, it is subtle.)

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