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Diamond & Specialty Minerals Summary for Sept. 4, 2020

2020-09-04 19:32 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a poor 62-93-145 as the TSX Venture Exchange added three points to 733 and polished diamond prices inched downward. Peter Dickie's Bluebird Battery Metals Inc. (BATT) jumped 1.5 cents to 14.5 cents on 9.1 million shares on word that it is now offering 25 million 20-cent shares, up from 10 million. Much of the enthusiasm stems from the company's acquisition of the Baxter Spring gold project in Nevada, but the bulk of the cash being raised will go to the Canegrass project in Western Australia. Canegrass's targets include nickel, cobalt, copper, vanadium and palladium -- a dream assortment for a promoter looking to hedge his bets.

Brad Nichol's Alpha Lithium Corp. (ALLI) lost three cents to 61 cents on 519,000 shares. The company has sold 8.85 million shares at 65 cents, raising $5.75-million for further work on its Tolillar lithium project in Argentina, or as the company puts it, to "execute its strategic plan." Mr. Nichol, chief executive officer, was suitably enthused with the $5-million placement and the fact that the underwriters' $750,000 overallotment option was "immediately exercised to fulfill demand."

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