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Diamond & Specialty Minerals Summary for July 8, 2024

2024-07-08 17:55 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Monday was a bleak 66-101-143 as the TSX Venture Exchange fell seven points to 578. Ewan Mason and George Read's Star Diamond Corp. (DIAM) fell one-half cent to 6.5 cents on 168,000 shares. Shareholders are eagerly awaiting the company's update of a now nine-year-old resource estimate for its Star and Orion South kimberlites -- the core of its massive Fort a la Corne diamond project in central Saskatchewan.

The update is now overdue, as Mr. Mason, chairman and chief executive officer, and Mr. Read, vice-president of corporate development, had been promising the estimate would be complete by the end of June. Not to worry, Mr. Mason says, the estimating is indeed complete, and release of the calculation is imminent. The continuing delay, he says, is the result of the calculations being checked "five ways from Sunday, so there are no problems down the road." (Nothing kills interest in a spiffy new promotion more than a company having to withdraw or correct material news a few days after its release.)

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