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Diamond & Specialty Minerals Summary for June 30, 2020

2020-06-30 20:06 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a huge 131-54-115 as the TSX Venture Exchange leapt 11 points to 620. Ken MacNeill and George Read's Star Diamond Corp. (DIAM) closed down one-half cent to 25 cents on 503,000 shares. The company appeared in court this week to present its case for an injunction against Rio Tinto Exploration Canada, its co-venturer at FalCon in central Saskatchewan.

Dennis Washington's now private Dominion Diamond Mines ULC is also grumpy with Rio Tinto. It has filed a notice of civil claim in a Vancouver court against Diavik Diamond Mines Inc. (DDMI), its co-venturer at Diavik, a rich and once highly profitable but now long-in-the-tooth diamond mine at Lac de Gras in the Northwest Territories. (In 2017, Mr. Washington, a Montana billionaire, took what had been the late Robert Gannicott's diamond success story private through a $1.2-billion (U.S.) cash offer heavily financed with debt.)

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