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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a mediocre 80-104-126 as the TSX Venture Exchange lost one point to 549. Terry Tucker's Southstone Minerals Ltd. (SML) has sold just over 200 more carats of diamonds mined at its Oena alluvial operation in northwestern South Africa. The sales came in two tenders held during the company's second quarter of fiscal 2024, which ended on Feb. 29. The sales generated over $462,000 (U.S.) in revenue, or about $2,307 (U.S.) per carat, and the company has greater expectations this year. Unfortunately, investors are not expecting much at all, not yet at least, as Southstone was a one-center when its stock last traded in early January.

Over half of the quarterly revenue came from a single diamond. The gem, which weighed 30.25 carats, sold for nearly $268,000 (U.S.), or nearly $9,000 (U.S.) per carat. Southstone had three other noteworthy gems sold during its latest quarter. Those diamonds weighed between 6.5 and 9.5 carats, and they fetched just over $107,000 (U.S.) in all. Those top four diamonds, which weighed a total of 53 carats, fetched $375,000 (U.S.), just over $7,700 (U.S.) per carat. And so, the remaining 147.34 carats of diamonds sold for just $87,152, or about $590 (U.S.) per carat.

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