Highlights 

  • Net loss declines to CAD 989K in Q3 2025 from CAD 1.39M in Q3 2024 
  • Private placement with Spirit Resources raises CAD 4M in August 2025 
  • Pre-Feasibility Study for Star–Orion South Diamond Project in progress, completion targeted for Q4 2026 

Star Diamond Corporation (TSX:DIAM) released its unaudited financial results for the third quarter ended September 30, 2025. The company reported a net loss of CAD 989K, compared with CAD 1.39M in the same quarter of the previous year. The decrease in loss was primarily linked to reduced administrative and exploration expenses. 

Administrative expenses declined to CAD 196K in Q3 2025 from CAD 433K in Q3 2024, while exploration and evaluation spending decreased to CAD 501K from CAD 775K. 

For the nine-month period ended September 30, 2025, Star Diamond recorded a net loss of CAD 3.41M, compared with CAD 3.91M during the same period in 2024. Administrative costs for the period dropped to CAD 1.0M, and exploration and evaluation expenses decreased to CAD 1.43M. Corporate development costs were CAD 134K, down from CAD 324K a year earlier. 

As of September 30, 2025, the company reported cash and cash equivalents totaling CAD 1.25M, an increase from CAD 164K at December 31, 2024. Working capital improved to CAD 1.01M, compared with a working capital deficit of CAD 1.02M at the end of 2024. The improvement was attributed to proceeds from convertible debentures, private placements, and the sale of shares in Wescan Goldfields Inc. 

Corporate Updates 

On August 6, 2025, Star Diamond completed a private placement with Spirit Resources s.a.r.l, issuing 133.3M units at CAD 0.03 per unit for total proceeds of CAD 4M. Each unit consisted of one common share and one warrant. The warrants are exercisable at CAD 0.04 per share within 12 months and CAD 0.05 thereafter, for a total term of 24 months, with an extension possible if additional financing is not secured. 

The company also issued 11.73M conversion units tied to the conversion of outstanding promissory notes. Following the transaction, Al Gourley and Wayne Malouf were elected to the board of directors. 

Project Developments 

In September 2025, Star Diamond engaged Misty Clifton and SGS to undertake a Pre-Feasibility Study for the Star–Orion South Diamond Project, located within the Fort à la Corne property in Saskatchewan. The PFS builds upon the 2024 revised mineral resource estimate and will include updated technical and economic evaluations.  

At the Buffalo Hills Project in Alberta, the company continues to assess results from diamond valuation and typing analysis to determine potential future exploration work. 

Outlook 

Star Diamond stated that its technical team will continue advancing evaluations for the Star–Orion South Diamond Project in support of a potential development decision. A budget of CAD 3M has been allocated for the completion of the PFS, subject to securing additional financing.