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Star Diamond Corp T.DIAM

Alternate Symbol(s):  SHGDF

Star Diamond Corporation is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. Its primary asset is its 100% interest in the Fort a la Corne property, which is located in central Saskatchewan. Its Fort a La Corne Diamond Project includes Star and Orion South Kimberlites. These kimberlites are in close proximity to established infrastructure, including paved highways and the electrical power grid. The Star-Orion South Diamond Project is located within the Fort a la Corne diamond district of central Saskatchewan, Canada. These Fort a la Corne mineral dispositions are located in the Fort a la Corne Provincial Forest, approximately 60 kilometers (km) east of Prince Albert, Saskatchewan. It also holds a 100% interest in the Buffalo Hills Diamond Project, located approximately 400 kilometers northwest of Edmonton, Alberta, Canada. The property covers a total of 21 mineral leases covering an area of approximately 4,800 hectares (ha).


TSX:DIAM - Post by User

Post by FRANKtheTANKon Jan 31, 2021 5:54pm
228 Views
Post# 32432813

Clock ticking or not?

Clock ticking or not?Taken from DIAM's Aug 11, 2020 news release update on litigation********************* "....As the Court stated in the Decision, after the interim injunction application was brought by Star Diamond, RTEC agreed, as part of its response to the injunction application, that RTEC would not call and/or conduct any meeting of the management committee under the RTEC/Star Diamond joint venture agreement (the JV Agreement) for a period of 120 days following RTEC completing the processing, diamond recovery and reporting of all diamond results on the samples previously taken from the 10 cutter holes completed on the Star Kimberlite by RTEC during 2019...." ****************************** RIO will argue that the clock started ticking Jan 12th, 2021. DIAM will likely argue that the processing is done and the diamond recovery is done BUT the reporting of all diamond results (breakage studies, etc) is not yet completed.....and thus DIAM will argue that the clock is not yet ticking wrt the 120 days RIO must wait before calling the JV management meeting. I personally feel the 120 days have yet to start their countdown but I have spoken to others that say the days are indeed ticking down and that April is going to devastate DIAM and their shareholders. Anyone care to comment??********************************Frank.
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