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Diamond & Specialty Minerals Summary for Feb. 26, 2025

2025-02-26 17:16 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Wednesday was an upbeat 96-63-151 as the TSX Venture Exchange added 13 points to 629. Another day, more of the same for Ewan Mason's Star Diamond Corp. (DIAM), which added one-half cent to 4.5 cents on 665,000 shares. The company's stock is unlikely to move much until it has news -- and to generate news it must raise cash to complete a prefeasibility study of its Star-Orion South project in central Saskatchewan.

Terry Tucker's Southstone Minerals Ltd. (SML), last at one cent when it was halted late in 2023 pending a long-since-failed acquisition, is back with another plan. The company has agreed to acquire Singapore-based Afrium Energy Ltd., which is exploring its Lekobolo project in Botswana for uranium. To acquire the private Afrium, Southstone must issue 20 million shares to its owners and grant them a 2.5-per-cent royalty. Afrium's owners are led by Julien Balkany, its chairman and major shareholder, and by Marc Senges, its chief executive officer.

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