ILI.v $ARXRF
Diamond & Specialty Minerals Summary for Nov. 12, 2021
2021-11-12 21:03 ET - Market Summary
by Will Purcell
J.C. St-Amour's Infinite Ore Corp. ( $ILI ) lost one-half cent to 14 cents on 1.3 million shares. Infinite had a good day Thursday, adding one cent to 14.5 cents on 1.68 million shares on word that it is offering 25 million flow-through and regular shares, all at 8.5 cents, as it seeks an additional $2.12-million to advance its Jackpot lithium project in Northwestern Ontario. This follows hard on the heels of word Tuesday that the company was offering 50 million regular shares at six cents, seeking $3-million for Jackpot.
Mr. St-Amour cheers Jackpot as hosting a historical resource of two million tons averaging 1.09 per cent lithium oxide in one pegmatite and 700,000 tons at 1.38 per cent in a second, but his main pitch centres of the project's proximity to Georgia Lake, being worked by Rock Tech Lithium Inc. ( $RCK : $7.21). Georgia Lake hosts 6.6 million tonnes indicated at 1.01 per cent lithium oxide and 6.7 million tonnes inferred at 1.16 per cent. A recent dream sheet proposed a $350-million mine.
