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    RIO   GB0007188757

RIO TINTO PLC

(RIO)
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Delayed London Stock Exchange  -  11:35 2022-08-05 am EDT
4927.50 GBX   +2.02%
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Star Diamond Shares Plummet as JV Partner Considers Potential Project Exit

06/29/2022 | 08:19am EDT

By Adriano Marchese


Star Diamond Corp. shares fell precipitously on Wednesday after the company said its joint venture partner Rio Tinto Exploration Canada Inc. is considering a potential exit from their project in the province Saskatchewan.

At 9:55 a.m. ET, shares were trading 61% lower at C$0.11.

On Tuesday after markets closed, the company said that Rio Tinto exercised its voting power to close the Star-Orion South Diamond project mine site for the rest of the year, and that it wouldn't commit additional capital to the project in that time.

Star Diamond holds a 25% interest in certain Fort a la Corne mineral dispositions which includes the Star-Orion South Diamond project, while Rio Tinto Exploration Canada, a subsidiary of Rio Tinto PLC, owns the rest.

Star Diamond said that during their joint committee meeting, Rio Tinto said it intends to review its alternatives regarding the project, including a potential exit.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

06-29-22 1019ET

Stocks mentioned in the article
ChangeLast1st jan.
RIO TINTO PLC 2.02% 4927.5 Delayed Quote.0.73%
SILVER 0.39% 19.895 Delayed Quote.-14.73%
STAR DIAMOND CORPORATION -5.56% 0.1275 Delayed Quote.-55.74%
All news about RIO TINTO PLC
08/05Labrador Iron Ore Royalty Down 1% as Q2 EPS Falls Year Over Year
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08/05Labrador Iron Ore Royalty's Q2 EPS Falls Year Over Year
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08/05Core Lithium Names CEO
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Analyst Recommendations on RIO TINTO PLC
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Financials (USD)
Sales 2022 56 634 M - -
Net income 2022 15 837 M - -
Net cash 2022 280 M - -
P/E ratio 2022 5,86x
Yield 2022 10,3%
Capitalization 99 092 M 99 092 M -
EV / Sales 2022 1,74x
EV / Sales 2023 1,93x
Nbr of Employees 49 000
Free-Float 65,4%
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Technical analysis trends RIO TINTO PLC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 59,35 $
Average target price 68,04 $
Spread / Average Target 14,6%
EPS Revisions
Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Dominic S. Barton Chairman
Mark Davies Chief Technical Officer
Arnaud Soirat Chief Operating Officer
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