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Diamond & Specialty Minerals Summary for Aug. 10, 2020

2020-08-10 20:42 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a pleasant 109-74-117 as the TSX Venture Exchange rose seven points to 747 while polished diamond prices edged higher. J.C. St-Amour's Ontario lithium and copper explorer, Infinite Ore Corp. (ILI), slid three cents to eight cents on 3.95 million shares. The company said today that it has drilled a 3.7-metre interval averaging 3.38 per cent copper at its Fredart project, near Red Lake.

Ken MacNeill and George Read's Star Diamond Corp. (DIAM), up one-half cent to 27 cents on 484,000 shares, continues its wait for a court decision on its request for an injunction that would prevent Rio Tinto Exploration Canada from calling a management committee meeting on the FalCon diamond joint venture in central Saskatchewan. If RTEC had been allowed to call a meeting early this year, Star would have been presented with a $40-million cash call. Fortunately for Star Diamond, the COVID-19 crisis and the dragged-out litigation has served its side well, no matter what the court decides.

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