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This was a report from the 2017 AGM. Then we had the green diamond discovery which was the big one. Attempted coups and covid followed and all these delays have led us to now 2024. As soon as the permit drops, i suspect KDR will pull the trigger. A reminder.....Notes from AGM for KDR...........When asked about a takeover......The prof said that during the year 355 garnet and sample analysis were carried out by Rio in their lab. This was at Rio's own cost of in excess of 350,000. They do not have to do that. It is clear from both Rio and Alrosa that they are keen on the Karelian Craton. Whilst the prof spoke openly about the deal with Rio and how it was great, he then immediately followed that up with talking about Alrosa, leading to him making the statement that whilst we have an agreement with Rio, "we are still looking at it on a commercial basis, and if someone makes us a very good offer we will say thank you very much and take it". If not we will go ahead ourselves.When asked about if there has been any takeover bids. The prof said that at this stage no. He then went on to say that we are at the moment in a very good situation in that we had acquired the LAHTOJOKI DIAMOND PROJECT and the mining permit. This continues until 2019 without KDR having to do any thing at all. KDR have to just show serious intent by 2019. However the prof went on to say that they would like to move a lot earlier than 2019. This was all under the old Finnish mining law. They have brought in a new law, however given that it would now take 5 yrs to re-apply for permission all over again the government are prepared to grant KDR further permissions under the old mining legislation, however the government told KDR that they hoped that KDR would reciprocate this by moving to a mine as quickly as possible (no legal obligation to do so). The Finnish government are very keen to get the mine up and running for three reasons:1. Revenue and financial aspects2. They want to have the first diamond mine in Europe outside the Russian mines.3. The government hope, as in Canada, that there is a specific mark on the diamonds and there would be a premium on the diamonds.The prof then went on to say that the AGM group were a jewellery group and they felt that they didn't have the mining expertise to take it on. So they were very happy to do the deal with KDR. The prof went onto say that AGM ( a and g mining) will do very well out of the deal when the mine is in place and is producing. KDR have no serious expenditure at this stage, just a nominal amount. Hence it's a very good arrangement for both parties. He then said that Rio could come in, however they are really interested in the huge scale mine if we make the discovery at Riihivaara, which may take 200-300million to develop and Rio would put up the entire capital costs under the terms of their agreement, which would see KDR retain 49%. He then went on to say that de beers are no longer controlling the market .........
..All the evidence shows Rio Tinto in the background. In 2015 KDR dropped their licenses in Kuusomo, and said they were concentrating on eastern finland. This was after opposition from Sami people i think. Letters had been sent to KDR and Rio Tinto. It appears Rio didn't want the attention in Finland and told KDR to pull the plug on that license.
"activists persistently continued to state their claims in letters they sent to KDR, Rio Tinto and the Finnish government. One of the participants in the movement took the letter addressed to KDR personally to the company's headquarters in Ireland, but he could not locate anyone from the company who would receive the letter.
A sudden turn in events took place in spring 2015, when a response finally came regarding the movement's actions. The Irish Independent was the first newspaper to report in an April news article (O'Donoghue, 2015) that KDR would quit the area it had reserved in Ohcejohka. Just a few days later, a man from the movement who had signed the letter the activists had sent to Rio Tinto received a response from them, a letter dated 10 April 2015. Even though the response from Rio Tinto to the movement was of a general nature and only briefly mentioned the Ohcejohka case, its main message was that Rio Tinto wants to respect indigenous rights in its operations (personal communication with a representative of the movement)."
On 1st July 2020, this was in the rns when the confidentiality agreement lapsed after 10 years.......
....A further announcement will be made in due course should any subsequent agreement be reached or
entered into between Karelian Diamonds and Rio Tinto.
Professor Richard Conroy, Chairman, commented:
“We have had a positive and constructive relationship with Rio Tinto for a number of years and the
confidential information made available to Karelian has assisted in the Company’s knowledge base and
progression of its mineral exploration programme. Whilst no agreement has been entered into at this stage
to extend the agreement with Rio Tinto I look forward to our maintaining a good relationship moving
forward.”
That’s them out of diamond 💎 mining
Unless another new province emerges 10 x cheap to mine
Full of fancy
Hallmarked
In Europe say ?
If only..!!!!
Whom could hold such Riches
Only Debeers has claimed in Angola the only diamond discovery in 21st century
Who else ?????
How little KDR Finland 🇫🇮 🤔
Rio thought best pass on this mine 🤔
https://x.com/stardiamondcorp/status/1757781962469540254?s=48
Someone is collecting KDR Diamond.Copper tickets Hmmmmmmmmmmmmmm
Over 1.5 mil bought in recent days after months of tumbleweed
Also, whilst talk of triple figure re-rates seems a bit fanciful, a MC of only £10m 4 bags this. That is food for thought, esp when some of the cr*p that is on AIM have MCs what North of £10m
Is this lady re-awakening for good or another short lived pump and dump... lets see. Fingers crossed its the former.
Price on Major Diamond discovery Kuhmo possible emerging province (green diamond found)
Lahtojoki first diamond mine in Europe outside Russia pinks blue 7%
North Ireland 750 sq klm possible Nickel Copper discovery
am thinking we have all three ;-0
Put price on that ???
Even with share price at £1 a share equates to a lowly £106m market cap! I’m looking at multiples of £ a share at the end game.
Re-rate going to be in the triple figures.
Update expected on all three fronts
Permit Lahtojoki ( will acquire Partner)💎
Drilling Ireland ?Copper Nickel platinum
Further exploration kuhmo. A5 and Pipes 26/24 💎
Game changer coming!!?
Around 1.5 mil purchased in last two days no apparent reason
🤔
From months of dormant wilderness
The Riihivaara 26 exploration permit covers Karelian Diamond’s kimberlite (olivine lamproite) discovery at Riihivaara. Exploration permits Riihivaara 24, 24a and 24b cover the adjacent areas. The Riihivaara permits are in an emerging kimberlite field, in which the Company has to date identified 20 regional anomalies
New method could simplify detection of diamond deposits
Staff Writer | February 11, 2024 | 6:06 am News Top Companies Africa Australia Europe Latin America Russia and Central Asia Diamond Gold
A diamond sticking out of a piece of kimberlite rock
A diamond sticking out of a piece of kimberlite rock. (Image by ETH Zurich / Andrea Giuliani).
Geologists from ETH Zurich and the University of Melbourne have established a link between diamond occurrence and the mineral olivine.
In a paper published in the journal Nature Communications, the scientists explain that their method will simplify the detection of diamond deposits. The process relies on the chemical composition of kimberlites, which occur only on very old continental blocks that have remained geologically unchanged for billions of years, predominantly in Canada, South America, central and southern Africa, Australia and Siberia.
Yogi, are you with Hall comms.
Fantastic summary Yogi1, all that for a 2.5m m/cap , ridiculous, folk will kick themselves when this eventually starts moving , it really could be last chance at these prices , can you imagine sitting on sidelines trying to get in , hopefully not long .
The Lahtojoki full mining permit was expected by end of December 2023, according to AGM sources, but we are still waiting on it. It has to be close now.
Here is a post to cure the boredom of waiting shareholders...... I suspect everything will change for KDR and its shareholders after permission granted. It will be the most important moment in KDRs long history. Bigger than anything achieved at cgnr. The rerate in the KDR share price that will follow this news is inevitable. It will be a hugely transformational moment for KDR and kickstart Finlands diamond mining industry. Many companies will be coming. Finland knows this and Finland has quietly made preparations for their arrival. How KDR, a tiny 2/3m capital company have ended up in this position in Finland is astonishing. Rio Tinto's diamond big boys are Scandinavia bound and they are not there for the skiing. What about DeBeers? Are they also going to be after a piece of the pie, will the pie be sliced in two/three, or are Rio Tinto looking to secure the whole pie.
KDR have
Lahtojoki + Lahtojoki South - Diamondiferous - PINK DIAMONDS + BLUE DIAMONDS....$$$
Kuhmo - Anomaly 5-Diamondiferous - GREEN DIAMONDS.....The expected motherload***
Seitapera - Diamondiferous - High Value Diamonds - Larger stones - read historical news releases...6.9ha pipe
Riihivaara - Diamondiferous - Ask yourself why spend so much on Riihivaara and not confirm officially that it is diamondiferous- Rio Tinto gave Riihivaara a high category rating after analysing its results and paying for the work. ssshh!!
Liperi - Yellow Diamonds confirmed- What else is there- likely held at Rio Tinto's request, but for KDRs benifit too.
Salla - Even more SSSHH!.....also highly likely held at Rio Tinto's request, but for KDRs benifit too.
Jappilla - We should find out my March.....similar to Northern Ireland
Northern Ireland.....ODM said the early results were off the scale and some of the best they have seen. we dont know much, only that its causing great excitement.
I cannot find another diamond exploration company in the world in the kind of position that KDR find themselves in. How on earth have they managed to do this and keep a lid on it.
Major Diamond companies pay hundreds of £Millions for economic diamond discoveries because they are so rare. KDR appear to me to be sitting quietly on a new "province" of future diamond mines. Major diamond companies will pay huge money for this. KDR would be worth hundreds of millions overnight, which is nothing short of miraculous for a £2/3m cap company . If Mining Permit is imminent, then odds are that every thing else follows shortly after. Remember It appears to be all fancy colour diamonds, so way more valuable and they will have a mark on them as Finnish diamonds, meaning premium value. No conflict diamonds here.
A reminder of Seitapera, from an old article... The KDR geologist believes this has high grade areas, and possibly large stones, given many were 60% broken.....
Seitapera is the biggest kimberlite in Finland. It rings in at a healthy 6.9 hectares, which, for those educated in old money, equates to around 17 acres. In Finland, though, diamond geologists are still scrabbling around following railway trains and puzzling over the distribution patterns of garnets. The country is not yet established as a major diamond territory, despite showing lots of potential. So how does Seitapera shape up in the wider context? In any comparison it's worth stating at the outset that Seitpera is never going to get near Jwaneng, which is marketed by its owner De Beers as the world's richest diamond mine, and which covers a whopping 54 hectares. Nor is it as big as the leading De Beers kimberlite in Canada, at Victor, which measures 15 hectares. But it is bigger than all of the three pipes which comprise Rio Tinto's Diavik mine, also in Canada, which range in size from 0.9 to 1.6 hectares. It's also bigger than Diamondcorp's 1.18 hectare Lace pipe in South Africa, and bigger too than AK6, the 4.2 hectare kimberlite pipe in Botswana that John Teeling was muscled out of by Lucara Diamond Corp not so long ago. And bigger than the 0.85 hectare Droujba pipe in Guinea, which is currently being drilled by Stellar. But then again, not as big as Grib, which lies across the border in Russia, and which measures up at over 14 hectares at its greatest width. So, while it's not the biggest around, Seitapera is no slouch.
This is from a 2013/2014 article i read.....It just highlights the bonkers market capital of KDR again. KDR were given 10s of £millions worth of exploration work for free from Rio Tinto. Noting is currently built into KDRs market capital.
" The agreement signed with Rio Tinto in July 2010 allowed the company access to Rio’s entire Finnish exploration database. The thinking on Rio’s part was that diamonds in Finland were distinctly non-core, but that there were nonetheless plenty of tantalising hints as to the region’s prospectivity. So why not allow a hungry junior explorer access to all information gleaned to date, and retain an interest if any real value is created? On Karelian’s side, the amount of data that came in with the Rio deal would have cost tens of millions of dollars and saved it huge amount of legwork. And, after duly sifting through it, Karelian subsequently applied for several licenses."
Just a reminder
https://www.middiamonds.com/the-diamond-blog/could-finland-be-the-site-of-the-next-diamond-motherlode/
Dark Horse as ever ;-)
It may be of zero significance, and it may just be a tokenistic appointment, but to have Seamus FitzPatrick (who is the founder of Capvest - a multi-billion euro private equity group) appointed as "Deputy Chairman" of Karelian Diamonds is a very an interesting one. He is one of Irelands most successful and wealthiest businessmen.