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Diamond & Specialty Minerals Summary for Sept. 24, 2024

2024-09-24 17:28 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a positive 86-77-147 as the TSX Venture Exchange rose eight points to 597. Ewan Mason's Star Diamond Corp. (DIAM), one of Canada's few remaining diamond developers, continues to limp toward prefeasibility at Fort a la Corne in Saskatchewan. Today it lost one-half cent to 3.5 cents on 705,000 shares.

Dr. Stuart Blusson's Archon Minerals Ltd. (ACS), which manages to trade a board lot about once every full moon, added 3.5 cents to 19 cents on 1,000 shares when it last did so on Aug. 9. Archon is partners with Joseph Kizis's Equity Metals Corp. (EQTY), a far more active trader, on two once promising but now all but forgotten diamond projects in Canada's North. (Equity, which is focused on its Silver Queen precious metals project in central British Columbia, rose two cents to 24 cents on 1.06 million shares today.)

Archon holds a 17.57-per-cent interest in the WO project. It is home to the DO-27 kimberlite, once fawned over as the Tli Kwi Cho pipe that was in the early running to be Canada's first diamond mine. Equity Metals, meanwhile, holds an indirect 4.47-per-cent interest in the project through DHK Diamonds Inc. The project operator since 2018 is De Beers Canada, which acquired its 72.13-per-cent interest through its takeover of Eric Friedland's Peregrine Diamonds Ltd.

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