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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a ho-hum 76-92-142 as the TSX Venture Exchange rose two points to 516. Consolidated Lithium Metals Inc. (CLM) had been a busier trader for the past two weeks despite having nothing new to say. Today it was unchanged at five cents on 1.61 million shares.

It appears that Sean Roosen and Paul Martin's Osisko Gold Royalties Ltd. (OR) is fed up with diamonds. Osisko, down five cents to $16.95 on 1.59 million shares today, acquired a royalty on the Renard diamond mine in Quebec in 2017 as part of a $1.12-billion purchase of royalties from Orion Mine Finance Group. At the time, the 9.6-per-cent streaming deal covering production at the Renard mine was cheered as one of three cornerstone assets among the 74 royalties, streams and offtakes being acquired.

Unfortunately, the Renard cornerstone quickly became a millstone. Stornoway Diamond Corp. spent about $1-billion exploring the project and building its mine in north-central Quebec, which reached production late in 2016. As it turned out, Stornoway's revenue was no match for its debt, as initial teething problems at the mine and then slumping rough diamond prices forced Stornoway into bankruptcy in 2019.

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