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Diamond & Specialty Minerals Summary for Dec. 12, 2019

2019-12-12 20:44 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a ho-hum 61-72-177 as the TSX Venture Exchange rose fractionally to 536 and polished diamond prices inched higher. Guy Bourassa's floundering -- but hopefully not foundering Nemaska Lithium Inc. (NMX) lost one-half cent to 16 cents on 9.19 million shares. The company continues to seek several hundred million dollars to resume construction of its Whabouchi lithium mine and processing facility in Quebec. Nemaska, $2.44 less than two years ago, has been reeling from cost overruns at the now nearly $1.3-billion project.

Leni Keough's Olivut Resources Ltd. (OLV), up one cent to seven cents on 6,000 shares Wednesday and untraded today, is inching toward acquiring a 50-per-cent interest in the Seahorse project, north of Great Bear Lake, from Dr. Ray Davies's Talmora Diamond Corp. (TAI: $0.02). Talmora granted Olivut an option on the project in the summer of 2018, giving Ms. Keough two years to spend $1.2-million on exploration. With the numbers tallied to the end of October, Olivut is roughly $200,000 short.

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