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by Will Purcell

The diamond and specialty minerals stocks box score for Thursday was a positive 78-68-164 as the TSX Venture Exchange rose four points to 817. Richard Quesnel's Consolidated Lithium Metals Inc. (CLM) doubled to four cents on 7.95 million shares Wednesday on word that it has a tentative arrangement that would grant it the option to earn an 80-per-cent interest in the Kwyjibo rare earth elements project, 125 kilometres northeast of Sept-Iles in northeastern Quebec.

The weasel twins -- a "non-binding letter of intent" -- dragging the deal back to the den leave plenty of wiggle room until a definitive arrangement is signed, but Consolidated Lithium can tentatively acquire a 60-per-cent interest in the project from Soquem Inc. by paying $5.65-million in cash, issuing $5.5-million in stock and spending $12-million on the project, including the start of a feasibility study, all over a five-year period. From there, it can increase its interest to 80 per cent by paying another $4.5-million in cash, issuing another $4.5-million of stock and spending a further $13-million on the project, completing the feasibility study in the process.

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