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Diamond & Specialty Minerals Summary for Feb. 12, 2024

2024-02-12 18:42 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a mediocre 82-80-148 as the TSX Venture Exchange rose two points to 549. Shareholders of Ewan Mason's Star Diamond Corp. (DIAM) endured another day of silence regarding approval of it reclaiming the Fort a la Corne diamond project in Saskatchewan. Word will hopefully come in March, so today, Star lost one-half cent to 7.5 cents on 78,000 shares.

Leni Keough's Olivut Resources Ltd. (OLV) rose one-half cent to 10.5 cents on 4,000 shares. The company applauded promising sample results last week from the Seahorse property, north of Great Bear Lake. It would have been great news had the market believed that the company and its co-venturer, Dr. Ray Davies's Talmora Diamond Corp. (TAI: $0.055), could raise the cash needed to exploit the encouragement.

Last summer, you may recall, Ms. Keough, Olivut's president and chief executive officer, and Dr. Davies, Talmora's founder and CEO, cheered the discovery of a macrodiamond nearly two millimetres long and 1.4 millimetres wide from a 1.8-kilogram batch of beach sand collected near the Seahorse target. That same batch also revealed a microdiamond, and to collect two diamonds from a tiny sample of sand is sufficiently unusual -- "very rare," Ms. Keough says -- and so the partners collected another sample at the Seahorse target.

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