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Diamond & Specialty Minerals Summary for Nov. 16, 2023

2023-11-16 20:39 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a mediocre 80-102-128 as the TSX Venture Exchange rose fractionally to 518. Alpha Lithium Corp. (ALLI) closed unchanged at $1.46 on 124,000 shares. The company is bidding adieu to Brad Nichol, who has resigned as president and chief executive officer "pursuant to the planned transition of management" that follows the expiry of a $1.48-per-share cash offer by Tecpetrol S.L. to acquire the company's shares.

The takeover bid was successful, so Alpha will be trading its last shortly, one presumes, and so the appointments of Jorge Dimopulos as interim CEO and Juan Jose Mata as interim chief financial officer may be more interim than usual. Meanwhile, Mr. Nichol, who helped orchestrate the acquisition, was immensely proud of what he and his Alpha crew had accomplished during his tenure, and he thanked his now former shareholders for their support "throughout this journey."

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