This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Will Purcell
The diamond and specialty minerals stocks box score on Wednesday was a pleasing 108-58-134 as the TSX Venture Exchange rose 12 points to 923 while polished diamond prices edged higher. Star Diamond Corp. (DIAM), up pleasingly to start the week but down a bit yesterday, fell to an intraday low of 37 cents before ending today down 4.5 cents to 40 cents on another 2.67 million shares.
Douglas Flett and Frank Smeenk's energetic chromite -- and former diamond -- promotion KWG Resources Inc. (KWG) lost one-half cent to four cents on 190,000 shares. KWG was at one time touting hopes to be a miner of chromite somewhere within the Ring of Fire district in Northern Ontario. Then, Mr. Smeenk, president and chief executive officer, and Mr. Flett, chairman, ratcheted up their plan to include building a billion-dollar railway connecting the rich chromite deposits in the area to the South.
Now, they have added the electrification of several First Nations communities to its plan. According to a new electrical infrastructure capex report, the amount of possible support for the proposed infrastructure is more than $1.5-billion. Assuming the governments kicked in such a sum, KWG's plan might come to life, since the proposal carries an electrical infrastructure capital cost of $960.5-million, with an additional $788.1-million needed for the indigenous community electrical infrastructure.
The remainder is available to Stockwatch subscribers.
© 2022 Canjex Publishing Ltd. All rights reserved.