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Diamond & Specialty Minerals Summary for June 6, 2023

2023-06-06 20:32 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a so-so 98-93-119 as the TSX Venture Exchange rose two points to 612. Ewan Mason's Star Diamond Corp. (DIAM) lost one-half cent to eight cents on 109,000 shares.

The wait goes on for word of the terms under which Star will get back the 75-per-cent interest in the FalCon diamond project in central Saskatchewan held by Rio Tinto, but the wait looks to be far longer for meaningful progress at the project. At last weeks annual general meeting, Mr. Mason, chairman and interim chief executive officer, said that he and George Read, his senior technical adviser, were working on ideas to model their way to feasibility, but he set a two-year timetable for the work.

With Star Diamond looking to avoid large and costly bulk sampling at Orion South, Mr. Mason and Mr. Read are looking westward with an eye to keeping their crew busy while they model toward FalCon feasibility. Mr. Read says there are several diamondiferous kimberlites on the company's 50-per-cent-owned Buffalo Hills property in Alberta, and a few have "slightly elevated Type IIa goods." As well, he cheered, at the K6 kimberlite "there is a very unusual population of beautiful yellow diamonds."

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