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by Will Purcell

The diamond and specialty minerals stocks box score for Tuesday was a so-so 79-69-162 as the TSX Venture Exchange soared 19 points to 692. Ewan Mason and Jean-Raymond Boulle's Star Diamond Corp. (DIAM) lost one-half cent to six cents on 362,000 shares. On Friday, the company cheered that Mr. Boulle -- a major shareholder lurking behind the scenes for the past five months -- will be taking effective control of the company through a $4-million private placement.

Mr. Boulle, a 75-year-old Mauritian now calling Monaco home, is buying 133.33 million shares at three cents, padding his holding to nearly 195 million shares. (He bought 61.1 million Star Diamond shares from Newmont Corp. (NGT: $72.77) for two cents per share in January.) Mr. Boulle can boost his share count any time over the next two years by exercising the 133.33 million warrants accompanying his shares -- most likely within the next year when the warrants can be exercised for just four cents apiece.

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