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Diamond & Specialty Minerals Summary for July 27, 2020

2020-07-27 18:18 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was an 80-80-140 as the TSX Venture Exchange leapt 17 points to 709 and polished diamond prices were flat. Don Bubar's Avalon Advanced Materials Inc. (AVL) had a busy day, rising 2.5 cents to nine cents on 11.7 million shares. The company, which alternates its story from a big rare earth project near Yellowknife, to a tin prospect in Nova Scotia and then on to a lithium project in Northwestern Ontario, has been saying next to nothing about any of them since spring.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM), up 1.5 cents to 27.5 cents on 427,000 shares, continues its wait to hear if a Saskatchewan court will grant it an injunction preventing Rio Tinto Exploration Canada, its would-be co-venturer on the FalCon diamond project in central Saskatchewan, from calling a meeting and handing Star a huge cash call for work at the project. Meanwhile, Star's attorneys -- and the barrack-room lawyers lurking among the company's retail shareholders -- are undoubtedly following another case involving Rio Tinto and a diamond co-venturer.

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