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Diamond & Specialty Minerals Summary for Jan. 21, 2025

2025-01-21 17:46 ET - Market Summary

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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a mediocre 69-86-155 as the TSX Venture Exchange fell four points to 614. Glenn Kasner's RJK Explorations Ltd. (RJX.A) rose one-half cent to 3.5 cents on 79,000 shares Monday but did not trade today.

It may be just as well that nothing has come of the nearly four-year-old arrangement that RJK Explorations made with "a very successful, award-winning, United States TV producer" who was to produce a show based on RJK's hunt for the source of the 800-carat Nipissing diamond in Northeastern Ontario. (But then, maybe the story is right for TV, as it would be a short series if RJK were to stumble across the source immediately -- The Curse of Oak Island is, after all, in its 12th season, while its treasure hunting protagonists are no closer to a discovery than they were at the start.)

But back to our latest episode of As the Promotion Turns: On Friday, Mr. Kasner, the company's president and chief executive officer, revealed that the two holes that his crew had drilled into the "distinct undrilled anomalies" on the Huff property in Bucke township had come up empty. The two features had been deemed to be potential kimberlites after what the company's project manager, Peter Hubacheck, called a review of the glacial history of the area. Last fall, the targets were upgraded based on a drone magnetic survey and Mr. Kasner and his crew rushed to arrange an option deal allowing them to drill the features.

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