[Description: Description: Karelian]
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 +353-1-479-6180
Maureen Jones, Managing Director
Allenby Capital Limited (Nomad) +44-20-3328-5656
Nick Athanas / Nick Harriss
Peterhouse Capital Limited (Joint Broker) +44-20-7469-0930
Lucy Williams / Duncan Vasey
CMC Markets (Joint Broker) + 44-20-3003-8632
Douglas Crippen
Lothbury Financial Services +44-20-3290-0707
Michael Padley
Hall Communications +353-1-660-9377
Don Hall
http://www.kareliandiamondresources.com
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Karelian Diamond Resources Plc
Karelian Diamond Resources Plc - Land Court Decision Final
18th October 2024, 15:03
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