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This may stall at 4p as sellers will have that figure in mind but no reason this shouldn't go to 10p+ fairly quickly as that's only a 3 Mil mcap and that would be about right for a cash shell with this news.
We can then look to add in the value of the assets lol.
The investor is owner of saxo oy a family run business in Finland that has been involved in mining and is a financial investment company with 250 employees and a 30 Mil revenue as per 2017.
They are most definitely not going to be selling anytime soon and are here for the long term.
Very exciting considering the 1mil mcap!
Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 04/12/2019, 6 days ago, when the stock price was 1.7920. Since then KDR.L has risen by +81.36%.
The bulls are strong. The negative sentiment that led to the last bearish pattern has evaporated. Besides, the signal is suggesting to STAY LONG. It is best to follow the signal and continue to hold this security, but with a more cautious attitude. more...
The proceeds of the Fundraising will be applied by the Company for general working capital purposes and in particular to the development of the Lahtojoki diamond deposit and to continue the Company’s diamond exploration both around Lahtojoki and in the Kuhmo region of Finland
The Kuhmo region is still under RTZ agreement ?? I THINK IT IS.END JUNE 2020
So will RTZ announce A EXTENSION OR SOMETHING STRONGER WORDED ????
No mention of Rtz yet.
Perhaps not big enough yet.??
Their pink diamond mine closes next year oz
Strange the third biggest mining company has only 6 month agreement to run.
It would cost them virtually nothing to extend this agreement.
No new major diamond producing mine expected by the experts till middle of next decade.
Demand for pink diamonds will exceed prices never seen before.
Its beginnings to look alot like Christmas!!
I would also guess he knows Mr Bird as links to Canada geological circles.
The past mining history of the prof always seeem to stem via Canada.
Zinc mine in Ireland is a example!! Top 15 in the world.
40mil gold trend and a considerable member of pedac show each year Canada.
Mr. Björnberg is a member of a prominent family in
Finland with a range of business activities, in particular in the forestry and paper industry.
The Björnberg family previously owned the Luikonlahti copper mine in the Kaavi area and still have
close connections with this part of Finland.
Mr. Björnberg qualified in geology at the University of Helsinki and is a member of the Finnish
Association of Mining and Metallurgical engineers. He has also been a member of the Canadian
Prospectors and Developers Association, as well as a member of CIM.
The Lahtojoki diamond deposit was originally discovered by Malmikaivos Oy founded in the 1940s
by the family.
After the depletion of the Luikonlahti copper mine the company concentrated its effort on diamond
exploration together with Ashton Mining and discovered a cluster of kimberlites including Lahtojoki.
Note also foresty! There are plenty of trees to remove in Finland.
But will be replaced once works completely finished I reckon?
Diamonds are sexy mining ie no chemical required.
Perfect for his family.
So .... Rio will fund any project we do in finland for just over half of it ??
Wonder if more is happening. This agreement has 6 months to run.
Hoops, if I have too much of the good whiskey I also have a long wait for movement. (:-))
The Company has concluded a Confidentiality Agreement (with Back in Rights) with Rio Tinto Mining and Exploration Limited (“Rio Tinto”) under which Rio Tinto has disclosed to the Company confidential information and physical geological samples relating to exploration in Finland. The Company has agreed that Rio Tinto will have the option to earn a 51 per cent interest in any project identified by Karelian in Finland, by Rio Tinto paying the direct cash expenditures incurred in developing the project
Thanks for the info Steve.
I held the Green diamond at A5 and visited the site at lahtojoki
Been a long wait for movement
Lahtojoki diamond deposit is located will be valuable to the Company moving forward. I look forward very much to working with him and his family to develop Karelian Diamond Resources
Karelian Diamond Resources plc (“Karelian Diamonds”) (AIM: KDR), is pleased to announce that it has today been informed that TUKES (The Finnish Mining Authority) has granted Karelian an Exploration Claim in the Kaavi region of Finland.
The Claim, which is close to the Company’s Lahtojoki mining concession, covers an area of 28.84 Hectares surrounding the location where kimberlite boulders in till have been discovered (as announced on 12 January 2017). The permit has been granted for a period of four years.
An exploration permit provides the holder with an exclusive right to apply for a mining permit.
The Claim is subject to a 30 day appeal period.
Then we have A5
ORANGEITE (GROUP II KIMBERLITE) DISCOVERED UP-ICE FROM GREEN DIAMOND
Karelian Diamond Resources plc (“Karelian Diamonds”) (AIM: KDR), the diamond exploration and development company focused on Finland, is pleased to announce that drilling, up-ice from its discovery in a till sample of a green diamond, has intersected orangeite (Group II Kimberlite), a potentially diamondiferous host rock.
? Results from first drilling up-ice from green diamond discovery.
? Drill core material intersected confirmed as orangeite by scanning electron microscopy (“SEM”) of thin sections at the GTK laboratories.
? Orangeite (Group II Kimberlite) is a potentially diamondiferous host rock.
? The drill core sample was classified as orangeite (Group II Kimberlite) through petrographic analysis and SEM at the Geological Survey of Finland (“GTK”) laboratories.
? Orangeite (Group II Kimberlite) is a potentially diamondiferous host rock of which the best known example is the major Finsch diamond mine in South Africa.
? The location of the drilling site followed a review of airborne geophysics and a till sampling programme up-ice from the diamond discovery which yielded high kimberlite indicator minerals (“KIMs”) (announced on 23 January 2018).
? The green diamond was discovered in a till sample (announced on 31 January 2017) taken in a KIMs anomaly (Anomaly 5) identified as part of a regional exploration programme by Karelian Diamonds in the Kuhmo region of eastern Finland.
? Five drillholes totalling 274.9m and varying in depth from 16.1m to 74.5m were drilled.
The key economic indicators for the Lahtojoki kimberlite project are estimated as follows:
Mine Life (yrs) Recoverable Carats (M) NPV (8%) US$ (M) IRR (%) Payback (yrs) 9 2.11 39.1 55 2
Capital cost estimates total US$22 million including process plant costs of US$14 million, infrastructure US$3 million and working and sustaining capital US$5 million.
The PEA states that analysis of combined microdiamond and mini-bulk sample data suggests a +1mm recoverable grade of 39.7 Carats Per Hundred Tonnes (cpht) and indicates the presence of high quality stones within the diamonds that have been recovered to date.
Drilling indicates 5,603,584 tonnes are present to a depth of 160 metres below surface. For the purposes of the PEA US$100/carat has been used in the economic evaluation and mine design.
A total resource (Non JORC) estimate is of 2,225,000 carats and a contained value of US$222.5 million. Pursuant to the PEA, it is appropriate to classify the resource into the inferred category based on the current available grade and diamond value data. Currently it is not possible to attribute reserves to Lahtojoki. Based on resource available and an appropriate technical and economic assessment it is possible to consider those resources that are likely to become mineable and economically viable subject to further exploration and feasibility work being undertaken.
An open pit mining operation is recommended.
Plant recovery of diamonds was estimated at 95% (2.11M carats recoverable) giving a gross value of US$211 million.
Recent RNS containing results:
Lahtojoki kimberlite, Pipe 7, Kaavi, Northern Savonia, Finland : One sample assayed at 90000 ct/ton diamond.
Pink diamonds was recorded by A&G correct me if I am wrong.
Not mabe .
There are there
Review of technical data suggests presence of pink diamonds in Lahtojoki deposit which if confirmed could have a significant impact on the economic evaluation.
A particularly interesting feature of the Lahtojoki deposit is the presence of coloured diamonds and, notably, pink diamonds. If present in sufficient amounts the presence of pink diamonds, which sell at a premium, could add significantly to the financial attractiveness of the Lahtojoki diamond deposit.