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Diamond & Specialty Minerals Summary for April 30, 2024

2024-04-30 18:54 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a mediocre 79-90-141 as the TSX Venture Exchange fell 10 points to 579. Andrew Farncomb and Christopher Pennimpede's Canterra Minerals Corp. (CTM) lost two cents to eight cents on 1.09 million shares. The company, founded by Randy Turner as a diamond spinoff from his Winspear Diamonds Inc. in 1999, still holds one of Mr. Turner's diamond legacies, although it is looking to back away from the project to pursue Newfoundland base metals.

Mr. Farncomb, Canterra's chairman, says the fate of that diamond project -- the advanced Buffalo Hills project in north-central Alberta -- rests with Star Diamond Corp. (DIAM: $0.08), which is Canterra's 50-per-cent co-venturer on the project. Canterra is the operator, although there has not been any operating in about a decade, as the project has sat on care and maintenance since the Great Recession. The project "is in the hands of Ewan Mason," the chief executive officer of Star, says Mr. Farncomb, adding "with us as a supportive active partner."

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