05:25:12 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Diamond & Specialty Minerals Summary for Aug. 10, 2022

2022-08-10 17:51 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Will Purcell

The diamond and specialty minerals stocks box score on Wednesday was a healthy 103-71-136 as the TSX Venture Exchange rose five points to 669. UEX Corp. (UEX) continues to trade busily as a bidding war to acquire the company continues. In the six previous sessions, over 100 million UEX shares traded. Today, the stock rose one-half cent to 48.5 cents on 6.23 million shares.

Nick Zeng and Fleming Huang's Golden Share Resources Corp. (GSH) closed unchanged at 7.5 cents on 1,000 shares. "Discovery in motion," cheers the company's website, adding that "drilling for discovery" is the apparent driver of its proclaimed motion. Unfortunately, there has been no drilling and therefore neither motion nor discovery at the company's top project, Ogoki, a diamond prospect just southwest of Marten Falls in Northern Ontario. Indeed, the company has spent just $1,552 on the project through its last two quarters.

Mr. Zeng, chairman and chief executive officer, and Mr. Huang, president, say that Golden Share planned an energetic drill program at Ogoki in the winter prior to the pandemic but the plan "failed [because of] the market conditions" -- promoterese that translates to "nobody would buy our stock." Then, they excuse, the company "selected to be prudent because of the unprecedented COVID-19 pandemic for the past two winters." Now, they enthuse, the pandemic should be in the rear-view mirror and so Golden Share will "try to get the drilling to proceed."

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2024 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


Comments for this item are closed