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by Will Purcell
The diamond and specialty minerals stocks box score for Thursday was a pleasant 105-69-136 as the TSX Venture Exchange rose five points to 920. Nick Horsley's Margaret Lake Diamonds Inc. (DIA) jumped three cents to 17 cents on 25,000 shares Wednesday following release of its annual report. Do not let the company moniker throw you off -- there is nothing diamondiferous about Margaret Lake. (Indeed, one must squint firmly to divine even a hint of sparkle at its now-you-see-it, now-you-don't -- oh, look, it's back again -- Letain nickel prospect in northwestern British Columbia.)
Margaret Lake acquired Letain four years ago, only to drop it a year later. The company's crew had puttered about for a bit, collecting some so-so samples that were not enough to keep the company interested. But wait! Mr. Horsley took over as chief executive officer early this year, replacing Yari Nieken, who in turn had replaced Niel Foran in 2022. Mr. Foran was the fellow in charge when Margaret Lake acquired and dropped Letain: A big reason for doing so was so the company could refocus temporarily on the Diagras diamond project with Arctic Star Exploration Corp. (ADD: $0.01). (Margaret Lake sold its sliver of the project two years ago.)
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