Star Diamond provided an update on its flagship 25%-owned Star-Orion South diamond project in the Fort à la Corne diamond district of Saskatchewan, stating that its JV partner, Rio Tinto Exploration Canada, a subsidiary of Rio Tinto (ASX:RIO, Not Rated) and a 75%-owner of the project, has decided to place the project under care and maintenance through December 2022. RTEC is also looking for alternatives and could possibly exit from the project going forward. In our view, this is a setback for the project, particularly as the companies had recently come to an agreement in December 2021 that allowed the project to move forward. However, we believe that this could also provide Star with an opportunity to re-acquire 100% of the project or look for another partner rather than having the project on care and maintenance. Star-Orion South is one of the largest undeveloped diamond projects globally with robust economics, that could attract a lot of interest.