Karelian Diamond Resources PLC - Dublin-based diamond explorer - Says the National Land Survey of Finland informs the company that the final meeting regarding its diamond mine development at Lahtojoki has been delayed. The meeting will now take place at the end of the summer or early autumn of this year. The delay is caused by the impact of Covid-19 and the workload of the National Land Survey.
"Clearly we would like to have news of the meeting date as soon as possible, so that the company can progress with the development of the Lahtojoki Diamond Deposit, particularly in view of the increasing demand for coloured stones such as those present in the deposit. Elsewhere in Finland the company's exploration programme is increasingly encouraging," says Chair Richard Conroy.
A mining concession over the Lahtojoki diamond deposit has already been approved by the Finnish Mining Authority, the company notes.
Current stock price: 2.39 pence, down 4.4% on Wednesday
12-month change: down 50%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Karelian (KDR)