REG-Karelian Diamond Resources Plc: Lahtojoki Mining Concession Certificate Issued

Karelian Diamond ResourcesAnnouncement

12/06/2025 07:02

Karelian Diamond Resources plc

("Karelian Diamonds" or the "Company")

 

12 June 2025

 

LAHTOJOKI MINING CONCESSION CERTIFICATE ISSUED

 
* Lahtojoki mining rights registered by TUKES
 

Karelian Diamond Resources plc (AIM: KDR), the diamond and natural resources
exploration company focused on Finland and Ireland, is pleased to announce
that, further to the announcement released by the Company on 10 June 2025, the
Finnish Safety and Chemical Agency (TUKES) has registered the mining rights
for Lahtojoki, with registration number K7363.

The mining concession certificate received from TUKES entitles the holder to
utilise the minerals within the mining concession and the Company is now
planning to proceed to the next stage of work on the mining concession area.

Maureen Jones, Managing Director, commented:

"Confirmation of the registration of mining rights is a critical step for the
Company and means that the Company can plan the next stage of work at the
Lahtojoki Diamond Deposit."

 

The Lahtojoki Diamond Deposit

The Lahtojoki diamond mining project comprises a mining concession covering 71
hectares (c.176 acres) which includes a kimberlite pipe with a surface area of
16 hectares (c.40 acres). In addition to containing high quality colourless
gem diamonds, the deposit also contains coloured diamonds including, in
particular, pink diamonds which are highly sought after and can command prices
up to 20 times that of normal coloured diamonds. The 2017 Preliminary Economic
Assessment on the deposit, which excluded the impact on project revenue of the
known potential for coloured diamonds, indicated 2+M carats recoverable with
an in-situ value of US$211 million, and recommended an open/vertical pit
mining operation.  This set the life-of-mine at over 9 years with payback by
year two, an IRR of 55% and an NPV (at 8%) of US$ 39.1M.  

 

Further Information:

 Karelian Diamond Resources plc Brendan McMorrow, Chairman / Maureen Jones, Managing Director  +353-1-479-6180    
 Allenby Capital Limited (Nomad) Nick Athanas / Nick Harriss                                   +44-20-3328-5656   
 Peterhouse Capital Limited (Joint Broker) Lucy Williams / Duncan Vasey                        +44-20-7469-0930   
 CMC Markets (Joint Broker) Douglas Crippen                                                    + 44-20-3003-8632  
 Lothbury Financial Services Michael Padley                                                    +44-20-3290-0707   
 Hall Communications Don Hall                                                                  +353-1-660-9377    

 

http://www.kareliandiamondresources.com

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