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Diamond & Specialty Minerals Summary for March 20, 2025

2025-03-20 17:24 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a ho-hum 76-77-157 as the TSX Venture Exchange rose two points to 640. Adrian Smith's First Atlantic Nickel Corp. (FAN), a 10-center that began to rise last fall, recently reached 39 cents thanks to its exploration and metallurgical work on its Atlantic nickel project in central Newfoundland. On Wednesday, the company's stock slipped one cent to 30 cents on 1.06 million shares as Mr. Smith, chief executive officer, drifted off on a hydrogen tangent. The company says that it has a "strategic research partnership" with the Colorado School of Mines "to explore geologic hydrogen as an energy source."

The plan is at least indirectly connected to Atlantic, as the collaboration will be based on First Atlantic's Pipestone ophiolite complex on the property, and on the St. Anthony ophiolite complex on the Atlantis project in northwestern Newfoundland. The company says that both properties -- brace for jargon -- encompass "extensive ultramafic rock formations characterized by awaruite-bearing serpentinized peridotites." These formations, you see, "are key indicators of geologic hydrogen."

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