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Diamond & Specialty Minerals Summary for Oct. 26, 2021

2021-10-26 20:07 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Tuesday was a weak 82-113-105 as the TSX Venture Exchange lost five points to 958 while polished diamond prices inched lower. Nikolaos Cacos's Argentina Lithium & Energy Corp. (LIT) continues to trade busily -- and erratically. Today it jumped nine cents to 54 cents on 4.86 million shares without benefit of news.

Ken MacNeill's Star Diamond Corp. (DIAM) rose one-half cent to 19 cents on 387,000 shares. The company's stock is again stuck like glue near the 20-cent mark, a perch it has occupied for most of the past decade during lengthy stretches of silence. The latest hush, imposed by the company's 18-month-long-and-counting court battle with its co-venturer, Rio Tinto Exploration Canada Inc. (RTEC), has forced their Fort a la Corne (FalCon) project into care and maintenance -- a state rarely conducive to a buoyant stock price.

While FalCon sits idle, Star diamond's loyal retail shareholders remain certain that better days await the project and their company. "Rio knows what is there," applauds one chatroom wag, while another muses whether RTEC will proceed with another 10-hole trench-cutter bulk sample, this time at Orion South, or if it perhaps has enough information at hand to massage the decade-old data obtained by Star into an accurate resource estimate devoid of worry about possible sampling error or diamond breakage.

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