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Diamond & Specialty Minerals Summary for Sept. 20, 2023

2023-09-20 20:36 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was a so-so 83-94-133 as the TSX Venture Exchange fell four points to 577. Ewan Mason's Star Diamond Corp. (DIAM) fell one-half cent to eight cents on 217,000 shares. September is winding down and investors are still waiting for the company to reach a separation agreement with Rio Tinto.

Jim Cambon's Hudson Resources Inc. (HUD) remains all cashed up and ready to roll -- but to where is the question. Hudson, founded by Jamie Tuer 21 years ago, and managed by him as president until he was replaced by Mr. Cambon four years ago, traded as high as $2.41 in 2007 on the strength of its Garnet Lake diamond project in southwestern Greenland.

After a 2009 crash and a Garnet Lake mini-bulk flop, Hudson got back to $1.86 on enthusiasm for its Sarfartoq rare earth project, also in southwestern Greenland -- only to shrivel anew when the rare earth sector did its typical cyclical crash later that year. In 2017, Hudson fought its way back to 80 cents on the strength of its White Mountain anorthosite project, another mineral on another southwestern Greenland prospect.

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