07:28:52 EDT Wed 01 May 2024
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Diamond & Specialty Minerals Summary for Jan. 2, 2024

2024-01-02 20:53 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a so-so 99-85-126 as the TSX Venture Exchange rose fractionally to 553. Ewan Mason's Star Diamond Corp. (DIAM) had an eventful 2023 and is poised to control all the Fort a la Corne diamond project in central Saskatchewan for the first time ever -- yet its stock sank as low as 6.5 cents in late November, a far cry from its 2007 high of $8.75.

The new year has begun with more of the same, as Star added one-half cent to eight cents on 140,000 shares in its first session of 2024. Mr. Mason, chairman and interim chief executive officer, and George Read, his senior vice-president of corporate development, have so far been true to their pledge to keep the market informed, so investors can expect a new bounty of news this year -- perhaps enough to elevate Star's stock.

First up -- within months -- will be a revised resource estimate for the Star-Orion South kimberlite complex on the soon-to-be-100-per-cent-owned Fort a la Corne project. (How many months is unclear as Mr. Mason and Mr. Read have offered the end of both the first quarter and second quarter as the target date for releasing the estimate. The end-of-June date seems more likely, given the delays in closing the deal that will send Rio Tinto packing and returns its 75-per-cent interest to Star.)

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