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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a so-so 89-85-136 draw as the TSX Venture Exchange fell three points to 618. It never rains but it pours at the Renard diamond mine in the Otish Mountains district of north-central Quebec. Idioms aside, Sean Roosen's Osisko Gold Royalties Ltd. (OR) could use a good drenching to end the forest fire crisis at Renard, the $800-million mine built by old Stornoway Diamond Corp. and then acquired by Osisko and its fellow creditors when weak rough diamond prices and mountains of debt carried Stornoway off to bankruptcy in 2019.

Osisko, down 18 cents to $18.96 on 622,000 shares today, holds a 35.1-per-cent interest in Renard, as does Investissement Quebec, an arm of the Quebec government. La Caisse de Depot et Placement du Quebec and Triple Flag Mining Finance share the remaining 29.8-per-cent of Renard through the reconstituted Stornoway -- reconstituted meaning that the former shareholders lost everything, and the four new backers are trying valiantly to avoid the same fate.

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