Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Lahtojoki kimberlite in Finland. ... diamondiferous but uneconomical when considered in isolation.
https://pastel.archives-ouvertes.fr/pastel-00982337/document
Diamond hunter you wrote: Kdr owning a province WTF you talking about?? KDR have exploration rights on a couple of acres. Check Tukes. Just about enough land to put his deck chair, bucket and spade roll out a rug and have little tea party with Maureen
Diamond hunter the 18% is no mystery CONroy took as free shares. As with every fundraiser he takes part shares instead of wages calling the wages he is owed as a loan to the company. He spent £15k on exploration snd £500k on wages and your looking for diamonds with £15k to spend. No wonder RTZ would not renew their confidentiality agreement on past exploration sharing. VampireKitten spends more in a year at the off-licence than KDR do looking for diamonds on there couple of acre reservation plots.
So in 3 years 23m shares are now 69m shares loads of fundraising. The Prof takes part wages and part shares out of each fundraise!!! What a lifestyle company to own!! A board full of immediate family and best friends and a band of long trusting shareholders topping up the share price as they average down with complete faith in the board and mystery pumpers. The company has gone from 23m to 69m in 3 years raising millions yet when you look at the results every year just a few thousand is spent on exploration. It all goes on wages and admin around 90% at a guess. It looks like the company have no current money for exploration and a huge board that need paying so another fundraiser shortly to keep those lights on.
In 2018 a capital reorganisation of the Company's shares took place and the issued and unissued ordinary shares were consolidated into 23,378,067 new ordinary shares of €0.00025 each (“Consolidated Shares”). The effect of the consolidation was to reduce the number of ordinary shares in issue by a multiple of 25. Immediately following the proposed consolidation, each existing shareholder held 1 Consolidated Share in place of each 25 existing ordinary shares.
So in the 3 years since the consolidation where 25 of your shares are converted to 1 the company is fast on track to be back at the conversion price which will be 25 x the loss of your initial investment when it gets there
Free shares for the Prof to keep control: Karelian Diamond Resources plc (“Karelian”) (AIM: KDR), the diamond exploration company focussed on Finland, is pleased to announce that Professor Richard Conroy, Chairman of the Company, has capitalised loans amounting to €71,429 (equivalent to c.£65,000) into 1,625,000 new ordinary shares of nominal value €0.00025 each, The remaining outstanding debt owing to Professor Conroy is now €86,208 and the Company and Professor Richard Conroy have entered into an agreement to formalise the terms of the outstanding debt. The debt will continue to be non-interest bearing and does not have a repayment date. Under the agreement that has been entered into it has been agreed with the Company and Professor Conroy that the outstanding debt of €86,208 shall be capable of being capitalised into new ordinary shares in the Company with the price of any capitalisation to be the mid-market price ( wasn’t last placing at a 26% discount) !!!! Looking below:
May 2021 Financing of £600,000
Karelian Diamond Resources plc (AIM: KDR), the diamond exploration company focused on , is pleased to announce a placing and subscription to raise a total of £520,000 (before expenses) (the “”) in conjunction with the conversion of £80,000 of existing debt into new ordinary shares in the Company (the “”) total financing of £600,000 Professor is capitalising a total of £74,000 into 1,850,000 Debt Capitalisation Shares at the Issue Price of 11% discount
AIM-listed Karelian Diamonds (KDR) – the junior sibling of Conroy Gold and Natural Resources (CGNR) – has announced a placing to raise £420,000 at 4p per share, a whopping 24% discount to yesterday’s closing price. That’s all very well, but by my maths it still leaves the company technically insolvent…
As I suggested on 20 July, it was clear that a placing was on the way as the company ramped its vehicular access rights to the Lahtojoki diamond project but had no money to spend on exploration. Indeed, the company was technically insolvent and I put it to you that post-today’s funding round, Karelian is still technically insolvent.
As at last November, the Interims showed that the company had just €20,901 in cash and had net current assets of MINUS one million Euros. Since then €240,000 was raised last December and now another £420,000 has been raised. You can do the maths – its not hard: Karelian is STILL, after two placings, technically insolvent……and that is before any spending since the end of November on crony capitalists (Broker, Nomad etc), boardroom fees and, of course, audit fees for the forthcoming FY results. Prof. Conroy tells us this morning that:
The additional funds raised will be used to further accelerate the programme at Lahtojoki that was announced yesterday….
“Further accelerate”? You’re ‘avin’ a giraffe, Prof Conroy! Indeed, the bulk of yesterday’s announcement seemed to focus again on the vehicular access rights which is all very well, but if Ka
The fact remains you’ve lost 98% off your investment from conception.
The Prof takes part shares in exchange for wages to keep the company a going concern, and himself in charge
The company haven’t done any exploration on the lahtojoki pit as it has been full of water for 20 years
The board have took snd are still owed millions in wages
RTZ pulled the plug
Past companies works showed the pit not viable enough to secure funding and went bump
OldBlue do you realise KDR have not found 1 single diamond at Lahtojoki. Not a single diamond in 20 years.
The discoveries are decades old and were not significant enough due to quality and CPHT to progress the project. The company European Diamonds ran out of money and couldn’t attract investment. Now KDR are passing there 20 year old workings as if a new discovery.
So CGNR loss 99% KDR loss 98% of shareholders investment!!!! How is the board still in charge ??? Ask yourself and research!!! I don’t know if any CEO that would still be in control with losses on 2 companies to investors of 99/98% but hey the faithful still believe. No results will ever return a profit for the majority of long term investors who’s £1 is worth 1pence
Lucky shares CONroys if your in CGNR from conception you’ve lost over 99% of your initial investment
KDR in fairness has out performed it’s big brother bringing shareholders from conception just a 2.84 GBX -147.16 (-98.11%)all time loss on investment
It used to be 1 company called CONroy diamonds and gold but got the benignity of shareholders the company was split into the 2 entities you now see. While The same head board members take millions in wages in from BOTH companies.
No wonder the Prof is delighted ??
This tanked to 1p last year and then Rio Tinto ended an agreement sharing confidential information not suprisjnv considering KDR average a few thousand on exploration and millions in wages. How this was pumped using all European Diamonds work at lahtojoki from decades ago as if KDR had achieved something recently managed to drag this back up to get a placing away at 4p to cover this years wages. The Prof and Co are still owed millions in wages snd he takes shares instead in placings to keep control of the company. These shares cost him nothing and look like fresh investment that does not exist. Read the small print in the annuals. Company are in massive debt, spend next to nothing on exploration and pass other companies works of as their own from decades ago. 2 placings since this was 1p and millions more shares in circulation diluting the faithful few.
Gold label sounds fabulous, enjoy!! Any company that spend 95% on wages/admin and 5% exploration are not going to achieve much. I hear the Professor loves escargots but it takes him ages just to get up the stairs.
RE: Webinar last nightTue 21:53
“The discovery of a diamond in a till exploration sample is an extremely rare event,” said GTK senior diamond exploration geologist Dr Hugh O’Brien.
“Such a significant result identifies this new target as a high priority for follow-up work.”
A5 ? motherload in Kuhmo?
The diamond was smaller than a grain of sand!!!
Share price down from 15p to 3p
£15k spent on exploration of the site with poor results since discovery
£1 million took in wages since discovery
5 Fund raises to cover wages
One big barge pole
It’s took years after announcing the Irish licence to put a few shovels of gravel in a bag. The company are pretending that they have done work at lahtojoki when the kimberlite has been full of water for years. Everything lahtojoki is from European diamonds work who couldn’t raise funds after bull sampling. FFS there’s tons of bull sample sat there just google earth lahtojoki you can see it. It’s left as the first lot wasn’t economic so they didn’t bother
I would urge anyone looking at this stock to visit https://www.*************.com/views/50671/karelian-diamonds-042m-placing-at-a-whopping-discount-still-hows-it-going-to-pay-for-any-exploration Also look at…. I have already covered the Interims from AIM-listed Karelian Diamonds (KDR) and the misleading statements within. But it seems I am not the only one who is concerned that investors are being led up the garden path with the acquiescence of Nomad Allenby, for an email has come into my possession which appears to question the validity of the statements offered up.
It’s like a cult major holders watching Storey get liquidated and holding on to their shares knowing it’s going to 1p with millions to be sold. Surely you could have sold and brought back at a discount and doubled your holdings for free in this barge pole