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Diamond & Specialty Minerals Summary for Aug. 8, 2022

2022-08-08 20:56 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was an enthusiastic 120-74-116 as the TSX Venture Exchange rose four points to 668. Ewan Mason and Ken MacNeill's Star Diamond Corp. (DIAM) rose one-half cent to 13.5 cents on 63,000 shares.

Investors are waiting for an update regarding their latest preoccupation: Will Rio Tinto Exploration Canada Inc. (RTEC), Star Diamond's majority co-venturer on the FalCon diamond project in central Saskatchewan, quit the project -- and if so, on what terms. Meanwhile, the market has been left hanging by Star Diamond about some key information it received regarding the project in early March, but which it has yet to reveal as promised.

Star Diamond met with RTEC the first week of March to receive and examine data produced by RTEC over the previous two years, a time when the two companies were snarling at each other in court about whether there was indeed a joint venture. After the meeting, Mr. Mason, Star's chairman, enthused that he and George Read, the company's consultant, "were impressed with the detail and depth of the technical information" that RTEC had been performing over the past two years.

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