Li-FT Power (LIFFF) Signs Option to Acquire Renard Diamond Mine

The move takes Li-FT in a new direction. The company has spent recent years exploring for lithium in the Northwest Territories. Lithium prices are under pressure from global oversupply. An alternative asset offers a hedge. Renard gives Li-FT a second catalyst if lithium does not recover quickly.

Bringing Renard back would require refurbishing equipment and hiring a workforce. The mine runs on diesel generators, tying costs to fuel prices. Li-FT trades on the OTC Markets, a venue with smaller capital pools. The company would need to raise significant funds to exercise the option and restart operations.

Diamond markets have been squeezed by two forces: lab-grown stones taking jewelry market share and weak consumer demand in China. Rough diamond prices fell sharply in 2023. They stabilized through 2024 and into 2026. Several producers have reported improved sales during the period.

Li-FT has not disclosed how it would finance an acquisition or the restart. The company expects to complete due diligence before the option expires. If the economics line up, Renard could become one of the few diamond mines to restart in North America. If not, the option costs Li-FT nothing beyond the time spent.