Star Diamond Corporation (TSE:DIAM) has released an update.
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Star Diamond Corporation has announced the successful acquisition of Rio Tinto’s 75% stake in the Fort à la Corne joint venture, making it the sole owner of the central Saskatchewan diamond project. As part of the transaction, Rio Tinto received over 108 million common shares, amounting to a 19.9% ownership in Star Diamond, along with certain investor rights. This strategic move consolidates Star Diamond’s asset portfolio and positions it for potential future development given the project’s advantageous location near existing infrastructure.
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