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Diamond & Specialty Minerals Summary for March 28, 2023

2023-03-28 19:45 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was an upbeat 97-76-137 as the TSX Venture Exchange rose five points to 630. Ewan Mason's Star Diamond Corp. (DIAM) closed unchanged at 8.5 cents on 89,000 shares as the wait drags on for word about the new direction, a new name -- and a new operator -- for the company's FalCon diamond project in central Saskatchewan. Star currently is chained to the inert body of Rio Tinto Exploration Canada Inc. (RTEC), majority owner and operator of the project, which said in mid-2022 it was mothballing FalCon and was considering an exit.

That exit seems guaranteed as RTEC has been removing its equipment from the site -- true to what it told the locals last fall, when it advised it would be minimizing its costs, and would be fully demobilizing its leased camp at the site along with -- here comes the clincher that RTEC is on its way out -- performing "certain site cleanup and remediation programs."

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