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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a weak 67-89-154 as the TSX Venture Exchange fell four points to 587. Patrick Power and Buddy Doyle's Arctic Star Exploration Corp. (ADD) closed unchanged at 1.5 cents on 79,000 shares.

Arctic Star, which launched a placement in late July and renewed it in late September, has now conceded defeat. Arctic Star had been seeking $275,000 from the sale of 13.75 million shares at two cents apiece and the company still needs the cash, so it will try anew, this time offering 18.33 million shares at 1.5 cents each. The shares come with a warrant attached, exercisable at a slightly less onerous eight cents compared with the original 10-cent exercise price.

Selling the shares could still prove a challenge despite the reduced pricing, as Arctic Star's stock obligingly retreated one-half cent to one sad cent on 1.16 million shares Friday, although it reclaimed the half penny on Monday. Further, the company says that "no insiders ... or persons conducting investor relations activities are expected to participate in the new offering." (That will not be a major shock -- the last insider participation apparently came in 2022, when Mr. Doyle, vice-president of exploration for the past 20 years, was a buyer of 857,000 shares offered at seven cents each.)

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