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Diamond & Specialty Minerals Summary for June 21, 2021

2021-06-21 20:15 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Monday was a discouraging 68-114-118 as the TSX Venture Exchange fell four points to 941 while polished diamond prices edged lower. Ken MacNeill's embattled Saskatchewan diamond explorer, Star Diamond Corp. (DIAM) lost one-half cent to 21.5 cents on 940,000 shares following word that Rio Tinto Exploration Canada Inc. (RTEC), the company's purported co-venturer on the Fort a la Corne (FalCon) project in central Saskatchewan, has called a management committee meeting for July 21, 2021.

The meeting call was expected, arguably overdue. RTEC previously said that it would not call a meeting of the management committee until 120 days following it having completed the processing, diamond recovery and reporting of all diamond results on the samples excavated in 2019 from the Star pipe. RTEC reported the results of the 10th and final hole in mid-January, but it was not until February 8 that RTEC completed its quality assurance and control checks and deemed the sampling program to be complete. Accordingly, the 120-day wait elapsed on June 8 and RTEC could have called the meeting for July 9, 2021.

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