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 Tuesday was a so-so 61-88-161 as the TSX Venture Exchange fell one point to 594. Ewan Mason's Star Diamond Corp. (DIAM) continues to march in place in the market, but the company may be edging forward with its financing campaigns. Late last week, Mr. Mason, chairman and chief executive officer, cheered the closing of a second and final tranche of his convertible debenture placement, raising another $230,000. When combined with the initial sale of $335,000, the company has now raked in $565,000 -- $65,000 more than it had been seeking.

The cash does come with some dilution as 28.25 million warrants accompany the debentures, exercisable at six cents apiece. Not to worry -- Mr. Mason might well have jumped at the prospect of selling stock at six cents, given that Star Diamond had been as low as one cent late last year and was mired near the two-cent mark when the debenture sale began. As well, Star Diamond could use the additional $1.7-million should the warrants be fully exercised down the road.

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