Star Diamond Corporation
Star Diamond Corporation (TSX: DIAM) holds 100% of the Fort a la Corne diamond properties in central Saskatchewan, including the Star - Orion South Diamond Project -- the largest undeveloped diamond deposit in the world by the company's own characterization -- plus the Buffalo Hills Diamond Project in northern Alberta. Star Diamond completed its acquisition of Rio Tinto Exploration Canada's (RTEC) remaining 75% interest in the Fort a la Corne joint venture on 26 Mar 2024 (not a pending transaction), issuing 108,204,112 common shares to RTEC as consideration; RTEC and its affiliates consequently held approximately 19.9% of Star Diamond's issued and outstanding shares at completion (119,315,222 shares), about 15.4% of the 773.9 million shares outstanding by May 2026. The kimberlites sit near paved highways and the electrical grid, favoring future development economics. A Pre-Feasibility Study is in progress (targeted Q4 2026) building on the July 2024 revised Mineral Resource Estimate.
Notable vs. Peers
- Financials score of 0.9/10 is weaker than the peer average of 5/10.
- Trading within 1% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Not yet determined: mill, tailings facility, grid power.
Jurisdiction (40%)9/10
Saskatchewan: Fraser PPI 2025 is 92.90 of 100 (rank 8 of 68), which maps to 9 on this site's scale. Saskatchewan, Canada -- Tier-1 mining jurisdiction.
Infrastructure (40%)6.4/10
Confirmed road access at Star - Orion South Diamond Project, Fort a la Corne, Saskatchewan, Canada; existing mill, grid power, and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Seabee (Santoy) (SSR Mining Inc.), 283 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score:9.4/10
Rio Tinto Exploration Canada Inc. (subsidiary of Rio Tinto plc) holds 15.42% (reported 30 Mar 2026) See holders
An operating producer's stake scores 8 at 5%, rising to 10 at 20% (the take-over-bid threshold) and holding there up to 50%.
Weight 25% · 34% here - Distance to a producing mineSub-score:0/10
Nearest producing mine: Seabee (Santoy) (SSR Mining Inc.), 283 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 31% here - Lifecycle stageSub-score:6/10
Stage: Preliminary Economic Assessment
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 20% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 9% here - CommoditySub-score:2/10
Primary commodity: Other
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 6% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Attorney who has served as an officer and/or director of several privately held and publicly traded mining companies. Director of Star Diamond Corporation since 6 August 2025; became Chairman effective 20 Nov 2025.
Seasoned global executive with over 30 years of international leadership experience across North America, Europe, Latin America, and Asia-Pacific. Appointed to the board 25 Mar 2026; became Vice-Chairman shortly after.
Appointed Interim Chief Executive Officer of Star Diamond Corporation effective 20 Nov 2025; listed as Chief Executive Officer (no longer qualified 'interim') on the company's own current management page.
Promoted from Vice President Exploration to Chief Operating Officer of Star Diamond Corporation effective 20 Nov 2025.
Chief Financial Officer of Inventus Mining Corp., Kobo Resources Inc., Star Diamond Corporation, Transition Metals Corp., Copper Road Resources Inc., Eskay Mining Corp., Globex Mining Enterprises Inc. and Volt Carbon Technologies Inc. Chartered Professional Accountant (CPA, CA, CGA) and principal of Marrelli Support Services Inc. / the Marrelli Group, providing accounting and regulatory compliance services to TSX and TSX Venture Exchange issuers for over 20 years; serves as Chief Financial Officer to multiple reporting issuers. Bachelor of Commerce, University of Toronto; member of the Institute of Chartered Secretaries and Administrators.
Experienced mining, capital markets and M&A lawyer and corporate director; partner at Fasken Martineau. Appointed to Star Diamond's board effective 20 Nov 2025.
Canadian CA, CPA, US CPA (Illinois) and Chartered Director; independent consultant with prior CFO experience at public companies in Canada and the US. Appointed to Star Diamond's board effective 20 Nov 2025.
Mining industry professional with over 25 years of experience in executive leadership roles, corporate finance and mergers & acquisitions. Appointed to Star Diamond's board 14 May 2026 (listed as 'J.C. St-Amore' on the company's own directors page).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Two informed owners hold real stakes here. Rio Tinto, through Rio Tinto Exploration Canada, holds 119,315,222 shares received as consideration for selling its 75% interest in the Fort a la Corne diamond project to Star Diamond in 2024 -- 19.9% at completion, about 15.4% of today's 773.9 million shares, since no release reports it using its top-up right in the Spirit Resources financings -- a legacy stake, not a fresh cash bet. Separately, veteran mining financier Jean-Raymond Boulle (founder of Diamond Fields Resources, discoverer of Voisey's Bay) invested $4 million in cash through his Spirit Resources vehicle in August 2025, taking his position to about 25%, and added a further loan in April 2026 that shows he is still adding.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Star Diamond owns 100% of the Fort a la Corne diamond properties in central Saskatchewan, including the Star-Orion South project, having completed the purchase of Rio Tinto Exploration Canada's 75% joint-venture interest on 26 March 2024, as well as the Buffalo Hills project in northern Alberta. Its July 2024 revised resource contains 71,734,000 carats indicated, 34.8 million carats at 19.4 carats per hundred tonnes at Star and 36.9 million carats at 17.9 at Orion South, plus 15,174,000 carats inferred. The last completed economic study is a 2018 preliminary economic assessment with a 19% post-tax IRR over a 34-year production life, and a pre-feasibility study is targeted for the fourth quarter of 2026. In April 2026 it drew a C$500,000 convertible loan from Spirit Resources, controlled by Jean-Raymond Boulle, who held about 25.13% of its shares.