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Diamond & Specialty Minerals Summary for May 11, 2022

2022-05-11 21:06 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a weak 76-109-125 as the TSX Venture Exchange lost 10 points to 700. Argentine lithium developer, Lithium Americas Corp. (LAC), a $50 stock in early April, slid $2.45 to $26.50 on 2.63 million shares today. The company expects its Cauchari-Olaroz operation to be in commissioning before the end of the year.

Nick Zeng and Fleming Huang's Golden Share Resources Corp. (GSH) lost 1.5 cents to eight cents on 7,000 shares. Investors are still waiting for drilling of a series of kimberlite targets at the company's Ogoki diamond project, just southwest of Marten Falls in Northern Ontario. Unfortunately, as one excuse fades another re-appears with new life.

Golden Share received the required drill permits for the Ogoki project three years ago, but its plan to test up to 15 of the features that winter fell through because of "market conditions." Undaunted but still unfunded, Golden Share "selected to be prudent" the following winter and this winter too, because of what it called "the unprecedented COVID-19 pandemic." Now, the company says, with the pandemic fading in its rear-view mirror, Golden Share will "try to get the drilling to proceed as soon as when the funds are secured through financing."

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