This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Here is a sample of this item:
by Will Purcell
The diamond and specialty minerals stocks box score on Tuesday was a miserable 67-116-127 as the TSX Venture Exchange fell nine points to 616. Ewan Mason and Ken MacNeill's long-running but now short-on-its-luck diamond company, Star Diamond Corp. (DIAM) fell one-half cent to 10.5 cents on 51,000 shares.
Star Diamond traded as high as $8.75 when it looked to develop its mammoth FalCon diamond project in central Saskatchewan on its own back in 2007. Its stock then collapsed, spending several years in 20-cent purgatory, before clawing above 50 cents in early 2020. That was when Rio Tinto Exploration Canada Inc. (RTEC) appeared set to complete its second $100-million exploration program on the project, thanks to it speeding through an earn-in period and declaring the formation of a joint venture late in 2019.
In a move it may now regret, Star applied the brakes at FalCon through a two-year court battle, a fight that sent the company's share price back to its 20-cent perch. The warring factions settled their dispute about the joint venture late last year and Star's fortunes, and its stock price, were looking up -- that is until RTEC shocked the company and the market late in June with word it was mothballing the project, and worse, was pondering an exit.
The remainder is available to Stockwatch subscribers.
© 2022 Canjex Publishing Ltd. All rights reserved.