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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a ho-hum 77-80-153 as the TSX Venture Exchange fell two points to 861. Guy Bourassa's Scandium Canada Ltd. (SCD) closed unchanged at four cents on 1.35 million shares. The company gushes that its $500,000 private placement was oversubscribed thanks to "strong demand, including from existing shareholders." Naturally, Mr. Bourassa, chief executive officer and a veteran promoter, was unwilling to send any backers home disappointed, so everyone got stock: Scandium sold 22.58 million shares, raising $558,000.

The new cash, Mr. Bourassa says, is for general and corporate working capital, with no specific use representing more than 10 per cent of the gross proceeds. As for what specific purposes might benefit from the cash, the sky is the limit -- so long as none goes for investor relations, or to any insiders or associates, or to "persons conducting investor relations activities." (He really wants you to know that Scandium Canada is above the earthly task of promoting its stock -- as if its stock chart did not already say as much.)

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