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 for Wednesday was a bleak 54-111-145 as the TSX Venture Exchange fell six points to 576. Ewan Mason and George Read's Star Diamond Corp. (DIAM) has its revised resource estimate for the Star and Orion South kimberlites on its Fort a la Corne diamond project in central Saskatchewan. The much-ballyhooed estimating and modelling that followed $300-million of work by the company's now departed co-venturer, Rio Tinto Exploration Canada Inc., yielded a result that was both eyebrow-raising and predictable. Accordingly, Star's briefly halted stock reopened where it had closed, at 6.5 cents.

The company's new estimate credits Star with 180 million tonnes indicated at 19.4 carats per hundred tonnes, with another 50 million tonnes inferred at 15.8 cpht. At Orion South, the company now applauds over 206 million tonnes indicated at 17.9 cpht and 50 million tonnes inferred at 14.76 cpht. And so, the two pipes are now credited with nearly 87 million carats, a hefty bump over the 67 million carats previously estimated. Of those carats, 71.7 million of them are indicated and are therefore eligible to be included in a reserve.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS