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Diamond & Specialty Minerals Summary for Nov. 21, 2022

2022-11-21 20:52 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a mediocre 81-96-133 as the TSX Venture Exchange fell another four points to 571. Ewan Mason and Ken MacNeill's Star Diamond Corp. (DIAM) dropped one-half cent to eight cents on 146,000 shares.

Star Diamond's stock continues adrift in the news vacuum that followed word late in June of the likely departure of Rio Tinto Exploration Canada Inc. as its co-venturer at the FalCon diamond project in central Saskatchewan. The uncertainty grew with news late last week of the imminent retirement of Mr. MacNeill, the company's founder, president and chief executive officer. Nevertheless, the seismic shifts have the company looking at its path forward.

The new man, at least temporarily, is Ewan Mason, a director for the past five years and the company's chairman since early 2020. Mr. Mason, who lives in Mississauga, a few thousand kilometres east of the company's head office in Saskatoon, says he is "not really" going to be the CEO, adding that the company has a solid team back in the office charged with various duties. The priority, he says, is to generate value for the company's shareholders who have been waiting far too long for that value to appear.

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