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Diamond & Specialty Minerals Summary for March 29, 2023

2023-03-29 20:07 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a mediocre 91-96-123 as the TSX Venture Exchange rose three points to 623. Critical Elements Lithium Corp. (CRE) jumped eight cents to $2.57 on 1.56 million shares despite a one-month silence regarding its Rose lithium and tantalum project in north-central Quebec.

Wes Roberts's soon-to-be-absorbed and currently halted Golden Share Resources Corp. (GSH) has firmed up the details for its reverse takeover of Ken Johnson's Brazil-based Lipari Diamond Mines Ltd. The two companies peg the current value of Lipari at $34-million, while the market values Golden Share at barely $2-million, and so the latter company's shareholders will end up with but a sliver of the merged entity -- especially since Lipari is also looking to complete a private placement of up to $34-million. (Golden Share last traded at 4.5 cents when the reverse takeover was revealed nearly two months ago.)

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