[image]
("Karelian Diamonds" or "the Company")
23 May 2024
LAND COURT HEARING RE LAHTOJOKI DIAMOND DEPOSIT
Karelian Diamond Resources plc (AIM: KDR) is pleased to announce an update to
the court hearing by the Finnish Land Court, in relation to the appeals by two
landowners regarding the amount of compensation to be paid to them and the mine
boundary in relation to the development of a diamond mine by the Company at
Lahtojoki in the Kuopio Kaavi region of Finland , details of which were announced
on 11 March 2024.
Following the court hearing held on 21 May 2024, the Finnish Land Court has
announced that its judgement will be given on 12 August 2024.
Finalisation of land possession for the duration of the mine is a necessary step
forward in relation to the Company's proposed development of the Lahtojoki
diamond deposit.
The Board believes that the development of a diamond mine at Lahtojoki will not
only bring significant benefits to the Company, but also to the entire
surrounding Kuopio-Kaavi area.
The Lahtojoki diamond deposit, as well as containing high quality colourless gem
diamonds, also contains pink diamonds and other coloured diamonds. Such diamonds
are highly sought after and can command prices up to 20 times that of normal
colourless gem diamonds.
The Company is continuing with its diamond exploration programme in Finland , in
particular, to locate the source of the green diamond which it has discovered in
Finland and also to progress its exploration for nickel, copper and Platinum
Group Elements in Northern Ireland .
Professor Richard Conroy, Chairman of Karelian Diamond Resources PLC, commented:
"The holding of the Land Court hearing and the announcement that the judgement
will be delivered on 12 August 2024 is a further step towards finalisation of a
diamond mining concession at Lahtojoki and is to be welcomed. The Company is
continuing to progress both its very promising exploration programme in Finland
where, as set out in our release of 9 April 2024, sample results indicate that
we are likely to be very close to the source of the green diamond, and the
Company's early stage but highly exciting exploration programme for nickel,
copper and Platinum in Northern Ireland ."
Further information:
Karelian Diamond Resources plc +353-1-479-6180
Professor Richard Conroy, Chairman
Allenby Capital Limited (Nomad) +44-20-3328-5656
Nick Athanas / Nick Harriss
Peterhouse Capital Limited (Broker) +44-20-7469-0930
Lucy Williams / Duncan Vasey
Lothbury Financial Services +44-20-3290-0707
Michael Padley
Hall Communications +353-1-660-9377
Don Hall
http://www.kareliandiamondresources.com
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
https://mb.cision.com/Public/22626/3986469/8370e756bf81148d_org.jpeg 3986469_0.jpegKDR.L
Karelian Diamond Resources Plc
Karelian Diamond Resources Plc - Court hearing update for Lahtojoki
23rd May 2024, 06:00
To continue viewing RNS, please confirm that you are a Private Investor*
* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
- Obtains access to the information in a personal capacity;
- Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
- Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
- Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
- Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
- Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.