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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a mediocre 69-86-155 as the TSX Venture Exchange rose two points to 646. It has been a long time coming -- and to be clear it is not quite here yet -- but Golden Share Resources Corp. (GSH) is poised to begin trading as Ken Johnson's Lipari Mining Ltd. Lipari is the public offspring of the private Brazil-based Lipari Diamond Mines Ltd. Golden Share Resources, which last traded at 4.5 cents early in 2023, has closed the reverse takeover of Lipari, a process than began just over two years ago.

Lipari's shareholders got nearly 2.22 shares of the new public company for each share of the private Lipari they held. Meanwhile, after considerable rejigging -- not to mention plenty of regulatory backing and filling -- Golden Share's previous shareholders now hold 4.82 million of the company's 146.9 million shares, about 3.3 per cent of the company.

Yes, most of the Golden Share stock went poof through a 1:10 consolidation coincident with the reverse takeover, but remember that Lipari's most recent shareholders arrived through a concurrent private placement that saw 3.62 million shares sold at $1 (U.S.). And so, after adjustments for both currency and stock exchange rates, each rolled back Golden Share Resources share now carries a deemed value of 61 cents per share as the now public Lipari readies itself for trading.

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