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Diamond & Specialty Minerals Summary for June 1, 2023

2023-06-01 20:35 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was an upbeat 107-72-131 as the TSX Venture Exchange jumped 10 points to 606. Silence is not golden in the diamond sector. Lucara Diamond Corp. (LUC) fell three cents to 40 cents on 891,000 shares. No-news Lucara hit a 15-year low of 38.5 cents today despite being silent for the past two weeks.

Trevor Walker's Frontier Lithium Inc. (FL) lost three cents to $1.95 on 517,000 shares. The company has "strong results" from a prefeasibility study of its lithium project in Northwestern Ontario, which it now touts as a "mine-to-lithium hydroxide chemical/hydromet facility" -- an integrated facility planned for the Great Lakes region of Ontario. The mine is at Pakeagama Lake in the far northwestern corner of Ontario, north of Red Lake, while the site of the proposed plant is still not set. There is plenty of time -- and time as well to improve on the "mine-to-whatever" catchphrase -- given that even the optimistic view does not have it running until the late 2020s.

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