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Diamond & Specialty Minerals Summary for Oct. 3, 2024

2024-10-03 17:11 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was a weak 65-87-158 as the TSX Venture Exchange fell fractionally to 589. Ewan Mason's Star Diamond Corp. (DIAM), arguably Canada's last diamond developer, added one-half cent to 4.5 cents on 162,000 shares. The company expects a prefeasibility study for its Fort a la Corne project in central Saskatchewan next spring.

Cory Dias's Anfield Energy Inc. (AEC) shot 2.5 cents higher Wednesday, closing at 9.5 cents on 20.3 million shares. The move followed word that Philip Williams's IsoEnergy Ltd. (ISO) has made a friendly takeover offer for Anfield. IsoEnergy, which lost five cents to $3.28 on 1.24 million shares on the news Wednesday, is offering 0.031 of a share for each Anfield share. The implied 10.3-cent-per-share value is a premium of 32 per cent, the companies say. As a result of the $127-million offer, Anfield's shareholders would end up with about a one-sixth interest in the expanded IsoEnergy.

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