Star Diamond

What Star Diamond does

Star Diamond Corporation (TSX: DIAM) is a Canadian natural resource company focused on the acquisition, exploration, and development of diamond mineral resources in Saskatchewan and Alberta. The company was incorporated in 1985 and currently holds 100% interest in two flagship diamond assets: the Star-Orion South Diamond Project in central Saskatchewan (described as the largest undeveloped diamond deposit in the world) and the Buffalo Hills Diamond Project in Northern Alberta (4,800 hectares with 38 kimberlites, 26 diamond-bearing). The 2018 Preliminary Economic Assessment for Star-Orion South projects 66 million carats recoverable over a 38-year project life, with $2.0 billion NPV (7%) after tax, 19% IRR, and a 3.4-year after-tax payback period.

The company's underlying technology portfolio centers on kimberlite exploration and diamond recovery methodologies, including core drilling, large diameter drilling (LDD), trench cutter bulk sampling (RTEC completed a ten-hole bulk sample program), and X-ray transmission (XRT) diamond recovery processing at its facility. Geological models have been built for the Star and Orion South Kimberlites with documented internal stratigraphy (EJF Inner/Outer, MJF, Pense, Cantuar units). Diamond valuations are supervised by expert Peter Ravenscroft with over 40 years of resource estimation experience, with notable recoveries including an 11.96 carat Type IIa diamond valued at US$12,500 per carat. Star Diamond holds dual Environmental Assessment approvals at both provincial (2018) and federal (2014) levels.

Star Diamond operates as a pre-production exploration company with no current revenue and a sales-led go-to-market motion targeting institutional investors, mining-focused equity funds, and retail investors via investor relations activities (newsletters, financial reports, AGM, corporate presentations). Future revenue is projected from rough diamond sales at $161-$333 per carat through diamond trading channels (De Beers, Alrosa, independent traders). The company reported a $3.8 million net loss for FY2025 and has been funded primarily through periodic small private placements, including a C$4 million round from Spirit Resources s.a.r.l. in August 2025. Recent leadership transitions include Lester Kemp as interim CEO (November 2025) following CEO retirement, with Mark Shimell as COO and Carmelo Marrelli as CFO.

Name

Star Diamond

Legal name

Star Diamond Corp.

Website

https://stardiamondcorp.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Star Diamond Corporation (TSX: DIAM) is a Canadian pre-production diamond exploration and development company focused on the Star-Orion South Diamond Project in Saskatchewan (the world's largest undeveloped diamond deposit) and the Buffalo Hills Diamond Project in Alberta, targeting future rough diamond sales to global diamond trading companies.

Ownership category

akta.pro rank

Headquarters

HQ city

Saskatoon

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel

Revenue model

1. Diamond Production (Future): As a pre-production exploration company, Star Diamond currently has no revenue. Future revenue will come from diamond extraction and sales from the Star-Orion South Diamond Project and Buffalo Hills Diamond Project. The PEA projects 66 million carats recovered over a 38-year project life. Revenue will be generated through the sale of rough diamonds, with projected diamond prices ranging from $161 to $333 per carat depending on kimberlite unit.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Star Diamond Corporation is a Canadian natural resource company in pre-production stage focused on the acquisition, exploration, and development of diamond mineral resources. The company holds 100% interest in the Fort à la Corne diamond properties in central Saskatchewan, including the flagship Star-Orion South Diamond Project (the world's largest undeveloped diamond deposit with 66 million carats recoverable over a 38-year project life), and the Buffalo Hills Diamond Project in Alberta covering 38 kimberlites (26 diamond-bearing).

Product overview

Star Diamond Corporation is a Canadian natural resource company operating as a single focused entity on diamond exploration and development. The company holds 100% interest in the Fort à la Corne diamond properties in central Saskatchewan, including the flagship Star-Orion South Diamond Project (the world's largest undeveloped diamond deposit), and the Buffalo Hills Diamond Project in Alberta. The company's primary offering is the exploration and development of these diamond mineral resources, with the Star-Orion South Project representing the core development asset containing an estimated 66 million carats over a 38-year mine life.

Differentiator

Problem solved

Functional benefit

Products and services

• Star-Orion South Diamond Project A world-class diamond development project located 60 km east of Prince Albert in central Saskatchewan, Canada, containing an estimated 66 million carats of diamonds with a 38-year project life and NPV (7%) of $2.0 billion after tax. The project includes the Star and Orion South Kimberlites with 100% company ownership following the March 2024 acquisition of RTEC's 75% interest.
• Buffalo Hills Diamond Project A 100%-owned diamond exploration project located approximately 400 km northwest of Edmonton, Alberta, Canada, covering 4,800 hectares with 38 kimberlites of which 26 are diamond-bearing, comprising 21 mineral leases.
• Fort à la Corne Diamond District Properties Multiple kimberlite properties in the Fort à la Corne Provincial Forest of central Saskatchewan, including Star and Orion South Kimberlites, with geological models prepared for seven kimberlites total. The Fort à la Corne district represents the company's principal mineral land position in central Saskatchewan.

Quantifiable outcome

• 22% increase in Star Kimberlite Indicated Mineral Resources to 34.8 million carats
• +6 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, historical and minor.

• Canterra Minerals CorporationcoreStrategic or Co-development Partner · 1 August 2024Star Diamond completed acquisition of Canterra's 50% interest in the Buffalo Hills Diamond Project, giving Star Diamond 100% ownership. Buffalo Hills contains 21 mineral leases covering 4,800 hectares with 38 kimberlites (26 diamond-bearing) approximately 400km northwest of Edmonton, Alberta.
• SaskPowercoreStrategic or Co-development Partner · 31 March 2011Construction Agreement signed with SaskPower for future power grid connection to support the Star-Orion South Diamond Project operations.
• De Beers Canada Inc.historicalStrategic or Co-development PartnerHistorical partner in Fort à la Corne Joint Venture (operator through 2006). In September 2006, Kensington acquired De Beers' participating interest in the FalC-JV for $180 million.
• WWW International Diamond Consultants Ltd.minorStrategic or Co-development PartnerDiamond valuation consultant providing independent diamond price applications using March 31, 2018 price book. Diamond prices used in PEA based on their valuations.
• SGS Canada Inc. - GeostatminorStrategic or Co-development PartnerPrincipal independent consultant for 2018 PEA, led by independent mining, processing and design consultants with support from Star Diamond technical team.
• DRA Americas Inc.minorStrategic or Co-development PartnerPrincipal independent consultant for 2018 PEA on mining, processing and design aspects.
• ENGCOMP Engineering and Computing Professionals Inc.minorStrategic or Co-development PartnerPrincipal independent consultant for 2018 PEA contributing engineering and computing expertise.

Scale indicators15 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Lucara Diamond Corp: Lucara operates the Karowe diamond mine in Botswana, producing high-value rough diamonds including large Type IIa stones. As a publicly traded pure-play diamond miner focused on coarse, premium diamonds, Lucara is the closest analogue to Star Diamond's intended future operating model and asset profile.
• Mountain Province Diamonds: Mountain Province is a Canadian diamond miner and JV partner at the Gahcho Kué mine in the Northwest Territories. As a Canadian-listed diamond producer, it shares the same regulatory jurisdiction, infrastructure challenges, and investor base as Star Diamond, making it directly comparable on capital markets dynamics.
• Petra Diamonds: Petra Diamonds operates multiple diamond mines in South Africa and Tanzania, including the iconic Cullinan mine known for large, high-value stones. Its multi-asset diamond mining model and exposure to coarse diamond pricing makes it directly comparable to Star Diamond's projected profile post-production.
• Gem Diamonds: Gem Diamonds operates the Letlhakane diamond mine in Botswana and has historically recovered exceptionally large, high-value stones. As a focused diamond miner with comparable asset size and product mix targeting premium rough diamonds, Gem Diamonds is a strong direct peer for Star Diamond's intended future operations.
• Arctic Canadian Diamond Company: Arctic Canadian Diamond Company operates the Ekati diamond mine in the Northwest Territories, Canada, following its acquisition of Dominion Diamond Mines in 2023. As another Canadian diamond producer operating in a similar regulatory and infrastructure environment, it is a direct geographic and operational peer to Star Diamond.

Broad incumbents

• De Beers Group: De Beers, owned by Anglo American, is the world's largest diamond producer by value with operations across Botswana, Namibia, South Africa, and Canada. As a historical partner in the Fort à la Corne JV (through 2006) and the dominant force in global rough diamond pricing, De Beers is the most relevant incumbent comparable and a logical potential acquirer of Star Diamond.
• Alrosa: Alrosa is the world's largest diamond miner by volume and a Russian state-controlled enterprise operating extensive kimberlite and alluvial deposits. As a major counterparty in the global rough diamond market and a potential strategic partner for large undeveloped deposits, Alrosa is a critical broad incumbent comparable for Star Diamond's market positioning.

Emerging players

• Burgundy Diamond Mines: Burgundy Diamond Mines is a smaller diamond producer focused on the Naujaat project in Nunavut, Canada. As an emerging Canadian diamond developer with a focus on high-value colored and fancy diamonds, it shares the same early-stage production profile and Canadian regulatory pathway as Star Diamond.
• North Arrow Minerals: North Arrow Minerals is a Canadian diamond exploration company with projects in Nunavut and the Northwest Territories. As a junior diamond explorer operating in the same Canadian regulatory environment and focused on kimberlite-hosted diamond deposits, North Arrow is an emerging peer comparable to Star Diamond's pre-production stage.
• Pangolin Diamonds Corp: Pangolin Diamonds is a junior Canadian diamond exploration company with kimberlite projects in Ontario and the Northwest Territories. As a small-cap diamond explorer with similar project types to Star Diamond's earlier-stage assets, it provides an emerging peer comparison on exploration-stage valuation and capital intensity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/stardiamondcorp
• LinkedInlinkedin.com/company/star-diamond-corp

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Star Diamond