Company Announcements

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
                                                              +353-1-479-6180

Brendan McMorrow, Chairman / Maureen Jones, Managing Director


Allenby Capital Limited (Nomad)
                                                              +44-20-3328-5656

Nick Athanas / Nick HarrissPeterhouse Capital Limited (Joint Broker)
                                                              +44-20-7469-0930

Lucy Williams / Duncan Vasey

CMC Markets (Joint Broker)
                                                              + 44-20-3003-8632
Douglas CrippenLothbury Financial Services
                                                              +44-20-3290-0707

Michael PadleyHall Communications
                                                              +353-1-660-9377

Don Hall

 

http://www.kareliandiamondresources.com

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