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Diamond & Specialty Minerals Summary for Jan. 30, 2024

2024-01-30 19:34 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a so-so 87-79-144 as the TSX Venture Exchange rose three points to 558. Ewan Mason's Star Diamond Corp. (DIAM) rose one-half cent to 7.5 cents on 236,000 shares today. The stock continues to tread water, having averaged just 7.4 cents since late last year, as investors are increasingly impatient with the bureaucratic dithering pending formal approval of the separation agreement between Star Diamond and Rio Tinto Exploration Canada Inc. (RTEC), its soon-to-be-former co-venturer on the Fort a la Corne diamond project in central Saskatchewan.

There was good news on Monday -- perhaps -- as the company "currently expects the transfer of the permit to operate [the project] will be completed prior to the end of March." Mr. Mason, chairman and interim chief executive officer, says that both Star and RTEC have "worked diligently" to complete documentation required by the Saskatchewan Ministry of the Environment, the department in charge of the permit, adding that the bureaucrats have promised to move the review process forward expeditiously.

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