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 for Monday was a weak 72-109-129 as the TSX Venture Exchange rose two points to 533. Scandium International Mining Corp. (SCY) was unchanged at two cents on 2.52 million shares. The $7-million company -- hardly the billions once ballyhooed by scandium cheerleaders -- plods along with its Nyngan project in Australia.

Ewan Mason's Star Diamond Corp. (DIAM) closed unchanged at 8.5 cents on 783,000 shares. As expected, Star Diamond is trudging back to the market for more cash while it awaits the formal closing of its separation agreement with Rio Tinto Exploration Canada Inc. (RTEC) at what soon will again be Star's 100-per-cent-owned Fort a la Corne diamond project in central Saskatchewan. With the company's coffers nearly empty, Star will need both hard dollars to keep its lights on and exploration cash to start advancing its diamond project.

Star Diamond revealed on Friday that it is offering a blend of regular shares priced at nine cents and flow-through shares priced at 11 cents, with the company seeking a total of $2-million. According to Mr. Mason, Star's chairman and interim chief executive officer, and his crew, the company will spend the flow-through cash to be raised on "exploration activities in Saskatchewan" and the hard dollars on "exploration activities on the company's project in Saskatchewan," as well as for general working capital.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS