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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a so-so 81-75-154 as the TSX Venture Exchange leapt 12 points to 613. Kristien Davenport's Vanadiumcorp Resource Inc. (VRB) was unchanged at 10.5 cents on 1,000 shares on word it has rejigged the terms of its private placement. The company arranged the sale of 7.27 million shares at 11 cents apiece late in February, seeking $800,000 for working capital, production and sale of vanadium electrolyte, engineering for a second plant, and general corporate purposes.

Now, the company says it is offering nearly 3.85 million flow-through shares at 13 cents and just 2.72 million regular shares, still at 11 cents -- and still for a total of $800,000. The purpose for the cash has also been tweaked since $500,000 of the proceeds must be spent on eligible Canadian exploration expenses. That would leave just $300,000 for other expenses. Indeed, the company now says the cash from the full placement is for exploration and metallurgical testing on its mineral properties and its electrolyte plant, as well as general corporate purposes.

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