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Diamond & Specialty Minerals Summary for July 17, 2020

2020-07-17 19:27 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Friday was a rousing 110-60-130 as the TSX Venture Exchange rose 13 points to 674. HPQ-Silicon Resources Inc. (HPQ) was a busy trader, slipping one-half cent to 38 cents on 3.24 million shares. HPQ's stock had been flatlined at 7.5 cents until late May, when it took off on heavy volume, getting as high as 45 cents in early July on daily volumes topping 12 million shares. There has been no news in over a month.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM) gained one-half cent to 26 cents on 520,000 shares. The wait goes on for a decision in the company's bid for an injunction preventing its could-be joint-venture partner, Rio Tinto Exploration Canada Inc. (RTEC), from calling a management committee meeting and presenting Star with a $40-million cash call for work on the FalCon diamond project in central Saskatchewan. Star Diamond has been fuming since RTEC told it last November that its was exercising all four options of their agreement in machine-gun fashion, declaring a joint venture formed, with RTEC holding a 60-per-cent interest.

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