Star Diamond Corporation announced that it has received notice from Rio Tinto Exploration Canada Inc. (RTEC) “for the exercise of all four options under the Option to Joint Venture Agreement entered into in 2017”. The agreement was in relation to the Corporation’s Star-Orion South Diamond Project in central Saskatchewan, Canada.

RTEC is said to be exercising its option five years before the deadline put down in the agreement. If the RTEC is successful, it will get a 60% stake in the Star-Orion South Diamond Project for a consideration of C$70.5 million, it is reported.

Star Diamond said it is currently reviewing the notice and the report of expenditures provided with the notice, and will provide further information following the completion of the review.