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Diamond & Specialty Minerals Summary for Nov. 17, 2022

2022-11-17 20:11 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a mediocre 84-98-128 as the TSX Venture Exchange fell seven points to 582 while polished diamond prices fell 0.1 per cent. Ewan Mason and Ken MacNeill's Star Diamond Corp. (DIAM) rocked the market late yesterday with word that Mr. MacNeill, the company's founder, president and chief executive officer, will take his leave at the end of the year. He nevertheless will linger on, says Ewan Mason, the company's chairman, serving as a special adviser to the board.

Mr. Mason, says that Mr. MacNeill and the company's board "have mutually agreed" that Mr. MacNeill will retire both as an executive and as a director. Retirement, especially for a promoter several years shy of eligibility for Canada's old age pension, is often a euphemism used to describe a fellow being nudged toward the door -- and when it is talked of as being a mutual decision, that is usually code for quite the opposite.

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