REG-Karelian Diamond Resources Plc: Lahtojoki Mining Concession Registered in Land Registry

Karelian Diamond ResourcesAnnouncement

10/06/2025 13:45

 

Karelian Diamond Resources plc

("Karelian Diamonds" or the "Company")

10 June 2025

 

LAHTOJOKI MINING CONCESSION REGISTERED IN LAND REGISTRY

 
* Lahtojoki mining concession registered in the land registry
* Documentation sent to TUKES for processing the mining concession
registration
* Hearing on the compensation matters referred back to the National Land
Survey now planned for Autumn
 

Karelian Diamond Resources plc (AIM: KDR), the diamond and natural resources
exploration company focused on Finland and Ireland, is pleased to announce
that its Finnish legal advisers have been notified by the Finnish National
Land Survey that the mining concession has been registered in the land
registry. 

The Company's legal advisers have also been notified that details of this
registration together with documentation in relation to the Lahtojoki
proceedings have been sent to TUKES (the Finnish Mining Authority) for
processing. TUKES has already approved a mining concession application for the
Lahtojoki diamond deposit and is responsible for both the registration of the
mining concession in the mining register and the granting of a mining
certificate as a proof of the mining right related to the mining concession.

The Company can now plan to proceed to the next stage of work on the mining
concession area on receipt of the mining certificate and, accordingly, mining
rights related to the Lahtojoki mining concession. 

In relation to the outstanding compensation matters referred to in the
Company's announcement of 18 October 2024, the Company has now been informed
by the National Land Survey that the new hearing in relation to the
compensations is not now expected to take place until Autumn 2025.

Maureen Jones, Managing Director, commented:

"Confirmation that the mining concession registration process is progressing
post finalisation of the registration of the mining concession at Lahtojoki in
the land registry is excellent news for the Company and its shareholders. It
will enable the Company to progress with its plans in relation to 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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