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Diamond & Specialty Minerals Summary for Aug. 15, 2022

2022-08-15 19:40 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a mediocre 88-111-111 as the TSX Venture Exchange slipped two points to 677. Ewan Mason and Ken MacNeill's Star Diamond Corp. (DIAM) rose one-half cent to 13 cents on 186,000 shares.

Star remains silent about the "enormous amount of data" it received in early March from Rio Tinto Exploration Canada Inc. (RTEC), its seemingly disillusioned co-venturer at the FalCon project in central Saskatchewan. Silence about important information is never a good thing with diamond juniors, especially with the limited public data pointing to a weaker grade. Still, there is a potential silver lining on the valuation side of the equation, one that makes the silence more perplexing.

At the end of May, George Read, Star's senior technical adviser, rolled out dollops of enthusiasm about the haul of Type IIa diamonds recovered in the 10-hole bulk sample RTEC collected using a Bauer trench cutter in 2019. Mr. Read cheered the Type IIa gems endlessly, as he has been wont to do for more than a decade, but he also provided appraisals for the 12 most valuable diamonds recovered in the test, as assessed by the Saskatchewan Research Council.

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