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Diamond & Specialty Minerals Summary for June 27, 2022

2022-06-27 20:48 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a positive 102-93-115 as the TSX Venture Exchange regained five points to 652. Saskatchewan's usually loud but currently hushed diamond explorer, Ewan Mason and Ken MacNeill's Star Diamond Corp. (DIAM), rose one-half cent to 27.5 cents on 73,000 shares.

The silence regarding a work program and budget for Star's FalCon joint venture with Rio Tinto Exploration Canada Inc. (RTEC) for the year beginning at the end of May has been sufficiently disconcerting that Star's stock, which hit 49 cents in January and held steady near 30 cents through most of the winter and spring, dipped as low as 23 cents last week.

This is shaping up to be the third year of limited activity at FalCon since the costly 10-hole Bauer trench-cutter bulk sampling program at the Star kimberlite wrapped up in 2019, and the lack of direction regarding the joint venture plans for the year has some of Star Diamond's long-time retail shareholders wondering what RTEC might have up its sleeve.

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