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Diamond & Specialty Minerals Summary for Aug. 9, 2019

2019-08-09 20:45 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a 73-73-154 draw as the TSX Venture Exchange fell 3.51 points to 592 and polished diamond prices were flat. Cameo Resources Corp. (CRU) lost one cent to four cents on 2.71 million shares. The company is retooling its promotion, having shuffled management and dropped its option on the Willa precious metals project late last month. It acquired the option earlier this year, perhaps not one of the more "astute acquisition" moves that it touts on its website.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM) has heard good news from Rio Tinto Exploration Canada Inc., its co-venturer on the Fort a la Corne diamond project in central Saskatchewan. Mr. Read, Star's senior vice-president and for some time now its go-to man for promoting the company, says that Rio Tinto has now completed five of the 10 planned vertical trenches into the Star kimberlite. The news did little for Star's stock price, which continues to bumble along near the 20-cent mark no matter the story. (It added one-half cent to 20.5 cents on 577,000 shares today.)

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