Star Diamond Expands Control Over Diamond Project

Star Diamond Corporation (TSE:DIAM) has released an update.

Star Diamond Corporation has gained full control over the Fort à la Corne Project in Saskatchewan after acquiring Rio Tinto Exploration Canada Inc.’s 75% stake, with Rio Tinto now holding a 19.9% interest in Star Diamond. The deal included the transfer of significant mining equipment and a $4.0 million cash payment to Star Diamond, positioning the company for enhanced development capabilities. Additionally, Star Diamond will now handle all future reclamation work for the project, backed by financial security from Rio Tinto.

For further insights into TSE:DIAM stock, check out TipRanks’ Stock Analysis page.