REG-Karelian Diamond Resources Plc: Land Court Decision Final

Karelian Diamond ResourcesAnnouncement

18/10/2024 16:15

 


Karelian Diamond Resources plc

(“Karelian Diamonds” or the “Company”)

18 October 2024

LAND COURT DECISION FINAL

 
* Mine boundaries finalised
* Three items regarding compensation referred back to the National Land Survey
 

Karelian Diamond Resources plc (“Karelian Diamonds”) (AIM: KDR) is pleased
to provide an update on its proposed Lahtojoki project. Further to the
announcement on 13th August 2024, the sixty day appeal period has now passed
and the Company’s legal advisors have confirmed that no application to
appeal the decision has been lodged with the Finnish Supreme Court.  

As a result, the decision of the Land Court has now gained legal force.  The
court hearing was in relation to appeals by two landowners regarding amounts
of compensation to be paid to them and the mine boundary itself at the
Company’s proposed mine development at Lahtojoki, in the Kuopio Kaavi region
of Finland.

A mining concession application for the Lahtojoki diamond deposit has already
been approved by TUKES (the Finnish mining authority).  The National Land
Survey has carried out the process in relation to ground rental compensation
for the local landowners and the decided compensation has been paid by the
Company. The finalisation of the mine boundary is an essential step in
relation to the Company’s proposed development of the Lahtojoki diamond
deposit.

The decision of the Court confirmed that there would be no change to the mine
boundary for the proposed development. The Court also rejected the majority of
items upon which the appellants based their claims for compensation and
referred three items back to the National Land Survey for review.  Finally,
the Court ruled that the appellants must contribute to the Company’s legal
costs.

Further Information:

 Karelian Diamond Resources plc 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

 4053611_0.jpeg (https://mb.cision.com/Public/22626/4053611/86bfe3361d0783bf_org.jpeg)  



Copyright (c) 2024 PR Newswire Association,LLC. All Rights Reserved