The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Was yesterdays RNS for someone else's benefit rather than shareholders?
I think North Arrow did similar also using same place in Vancouver.
One gets the feeling that KDR and Finlands GTK will form the new company together for Lahtojoki Mine, with the backing of a major diamond company (De Beers? Rio Tinto?Alrosa?) once permit arrives. Likely Rio Tinto in my opinion given their link to KDR and all their low key manoeuvring in Finland over past two years. Why would Rio Tinto stack their Finland exploration company with a board of diamond expertise directors? Didn't Rio keep Argyle hush hush at the start. The penny still has not dropped with the market here as to whats going on in Finland. Perhaps the market needs to learn Finnish and read the Finnish Newspapers!
There is no other pink diamond asset like Lahtojoki in the world. The rush will begin with the permit which I suspect will be any time between now and Christmas, based on what Tukes have said in Finland.
Management need to deliver for shareholders here. Its October 2021 now.
Nobody is getting any younger, myself included.
Many people have backed this company, myself included.
Sadly many people have passed away, having supported the company and waited years for a return, but ran out of time. It is this that annoys me the most.
Get on with it please and do not alienate your shareholders along the way.
You are not running Fort Knox, you are running a junior exploration company.
Learn from the past please.
Don't ignore your shareholders.
I look forward to a changed approach by the company.
https://www.burgundy-diamonds.com/webinar
This is well worth watching. Finland must be on their radar!
And what about Liperi?
KDR exploration Permit arrived on 13/01/2021 also, under Ref: ML2021:0004-01. Again looking at the history on Tukes,
the search has been significantly narrowed down also. They have been exploring at Liperi since at least 2012, probably longer, as Ref: ML2012:0117 illustrates on Tukes. What has caused them to suddenly narrow the search here. I can't see any information on website about Liperi. I know historically a yellow diamond was found there. Im guessing Ashton/Rio found.
To be exploring at Salla and Liperi for so many years without ever mentioning them and then suddenly narrow down the search again without even mentioning certainly takes my attention.
On the KDR website your attention is directed to Lahtojoki all the time, never towards the province taking shape quietly. Don't ask how the elephant hunt is going. Maybe the elephant hunt turned up a "Mammoth". Some news soon would be good.
Can anyone shed any light on SALLA and LIPERI?
For Salla, which is only a few miles from the border, the area was narrowed down with the arrival of an exploration permit on 13/01/2021. It looks like this very close to where Spencer found the 2ct diamond on the Russian side of the border. He believed that the source of that diamond was on the Finnish side. KDRs Salla ground looks very close to the border. I can't see anything on the KDR website about Salla, which is strange. I would love to know what has been found at Salla, to cause KDR to narrow the search to a particular area as can be seen on Tukes website on the map included with Exploration Permit Ref ML2021:0005 -01.
So First Equity only gave a target price based on part of Lahtojoki deposit, based on 3 percent pink diamonds and based on Pink diamonds 10 times more valuable. They gave 35p.
It was said 5 percent pinks before, so 3 percent will be ultra conservative. Also I am told pinks can fetch 20 times the value of ordinary. Suddenly, even the 35p looks very cautious, so could have easily said 70p instead of 35.
In addition, I wonder what Anomaly 5 (green diamonds) might be worth if its a major discovery like Lomomasov. Note that the professor said "the green diamond and any other diamonds we may have found there". Sounds like more than one to me.
Then include Seitapera wherethere they believe they may have large stones, Include Riihivaara and whatever else makes up a province, then you have a huge target price. Didn't the prof previously talk of a major spending $200-300m to develop a mine at riihivaara , if they make the discovery there. Well they are now saying they believe they have a province in Kuhmo. (Ekati in Canada comes to mind, without the costs). A central processing plant to serve all probably what will happen.
Throw in Liperi and Salla into the mix????
Not to mention Fermanagh in Ireland (which may or may not have any value, no idea).
If Kuhmo is a province and the source of the green diamond is a major find, then that target price of 35p (which doesn't include any of KDRs last 15 -20 years exploration and discoveries) would be a drop in the ocean.
You could then be looking at targets of £5 -£10-£15+ rather than 35p.
And KDR have all the ground. How a tiny £2m cap company has managed to get themselves into this position in Finland is hard to grasp. The professor appears to have got big backing for CGNR. So he will have no problems getting backing for KDR. A wise major may pay huge money to take over KDR. Thats my guess.
This is a bit technical, but the Q & A at the end is worth a listen. The expert says that its hard to see a mine with diamonds similar to Argyle pinks being discovered. Though she does go on to say that the Lomomasov mine in western Russia is main other mine producing pinks similar to Argyle.
So who knows what other news will emerge from Lahtojoki, but I believe that the geology at Anomaly 5 in Kuhmo is very similar to that at Lomonosov mine. We know that Anomaly 5 has greens. Does it have the pinks too. Very good chance. My guess is that KDRs "elephant hunting" has paid off with their Kuhmo exploration. The make up of the 4 directors of Rio Tinto Exploration Finland OY suggests that to me. All with diamond expertise. Why else would Rio appoint these directors in Finland? sssshhh
https://www.astteria.com/uk/diamonds-education/pink-diamond-prices
ring with pink diamond gone from $1.2m to $12m in value.
https://edition.cnn.com/style/article/jlo-ben-affleck-engagement-ring/index.html
https://www.iol.co.za/lifestyle/style-beauty/fashion/diamonds-are-forever-pink-diamond-engagement-ring-ben-affleck-gave-jennifer-lopez-in-2002-is-now-worth-r170m-af069f32-aac2-46a9-b8aa-55573cf78d9d
Repost
Irish Times Newspaper 2019
I found this paragraph about KDR in an article published in the Irish Times newspaper from 2019.
“the company has made good progress with its interests. It has a mining permit for Lahtojoki, whose previous owner, resources giant Rio Tinto, has approached the Irish company suggesting that it develop the deposit – if it is viable – in return for a share of the proceeds.”
Its looking more and more viable now.
Arctic Star Exploration - After very impressive results in Finland things suddenly changed there.
December 2019 - February 2020 - A large private placing with Director participation, including W Ferreira
February 7 2020 - 2 million stock options granted to its directors
February 20 2020 - Director W Ferriera resigned. Big RNS to inform the market.
July 27 2020 - Arctic Stars last RNS, but its about Canada. However there are two lines squeezed in at the end of that RNS to say that Director Roy Spencer has resigned. Reason given was due to the downturn of activity in Finland and other pressing interests.
No big RNS or write up for his resignation. He was the man who discovered Grib in Russia and was the Finland Manager for Arctic Star. I do wonder what this other "pressing interest" is? Just a thought.
I note that as CEO of European Diamonds he acquired Lahtojoki in April 2004 -
Roy Spencer, Chief Executive Officer of EPD, stated today
'Our work across the Karelian Craton over the last 5 years has highlighted the
Lahtojoki area as a target for economic diamondiferous bearing kimberlites. The
potential of this area fits in with our new regional interpretation and confirms
our belief that the Finnish part of the Karelian Craton is extremely prospective
for diamonds.
We plan to complete our re-evaluation at Lahtojoki by further drilling and
sampling, coupled with additional geophysics over the next few months, leading
to the start of a full evaluation and feasibility programme later this year. We
are now confident that we have a significant kimberlite target with economic
potential at Lahtojoki.'
I believe Roy Spensor was also very keen on Lentira - Kuhmo area.
April 2004 - Lentiira Update
A recent geophysical survey has outlined a drilling target close to the 'Railway
Train' where high quality kimberlite indicator minerals and diamonds were
discovered in 2001/2002. The source of these discoveries has not yet been
identified.
Roy Spencer commented:
'We are convinced we have diamondiferous source rocks at Lentiira. This latest
re-interpretation is not unusual in diamond provinces particularly where so
little exploration work has been undertaken previously. Finland is virtually
unexplored for diamond targets and all our evidence to date at Lentiira and
elsewhere in the Karelian Craton points to the potential for significant
discoveries. The high quality exploration which this company takes will ensure
success in due course at Lentiira and elsewhere in Finland'.
old researchSteve hoops, I watched that stock box piece and looks good for them. Good luck to them and their shareholders.
Since the closure of the Argyle Mine I have been looking into where Rio Tinto Diamonds will go from here. I have noticed a number of unusual coincidences that have led me to do some research on Finland and what might be afoot there in terms of Diamonds. This research has subsequently expanded to Gold, Cobalt, Nickel, Copper. All show coincidences, however, my initial focus is on the Diamonds.
Coincidences, call them what you like and make of them what you wish. I give no opinion here and just highlight some things I noticed which you may find interesting.
1. TUKES - The availability of information on KDR via the Tukes Searchbox ceased in mid -November (approx. 18th). This availability only returned on 20/01/2021. Why is the interesting? Before mid November this facility would have returned 20/30 results, then suddenly nothing. Again why is this of interest?
At the same time a few other companies also disappeared, namely Arctic Star Exploration (still absent ), Conroy Gold, FinnAust, Lattitude 66 Cobalt, Gemdale Limited. Perhaps one or two more. So some public and some private companies. All have significant land holdings and all located close to each other geographically. The eastern half of Finland mainly. One other company disappeared from the Tukes search facility. This company was "Rio Tinto Exploration Finland Oy".
2 RIO TINTO EXPLORATION FINLAND OY- I'm not sure many people are aware that Rio Tinto have entered Finland or that this new company was even set up on 19 May 2020. In addition to this the board of this company is made up of 4 directors, at least two of which are diamond experts with significant diamond history and experience. I can expand on this in a later post. But its easily found on google. Rio Tinto Exploration Finland Oy working with Geopool. What is the significance of that?
3 AB SCANDINAVIAN GEOPOOL LTD - On the 26/05/2020 Rio Tinto Exploration Finland Oy gave GeoPool (and the name of 16 Geopool employees) the power of attorney to act on behalf of the company in Finland. This included reports, permits and interestingly work with regards to compensations. (I can expand on this in a later post). Why is that interesting?
Well at a similar time, and you can check this for yourself, there was also a change with regard to KDRs Reservations.
Unlike previous permits or reservations, KDRs main 3 reservations Lahtojoki, Kuhmo x 2 which lock down all the surrounding land, are all now “care of Ab Scandinavian Geopool Ltd”.
These are just a few of the coincidences I noticed from research. I have a number of others which are just as interesting that appear to link Rio Tinto to KDR in the near future. I shall expand on those soon, when I get a chance.
The market hasn't noticed KDR or Rio in Finland yet. Take a look at Arctic Stars last 10 RNS and Roy Spencers hidden departure, buried in an rns.
The Lahtojoki full mining permit I presumed imminent since May, but we are still waiting on it. has to be close now (I hope).
Here is another repost...... 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 for Finlands 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? Alrosa? Are they all 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
Anomaly 5-Diamondiferous - GREEN DIAMONDS
Seitapera - Diamondiferous - High Value Diamonds - Larger stones - read historical news releases
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. ssshh!!
Liperi - Yellow Diamonds confirmed- What else is there- ssshh!
Salla - Even more SSSHH!
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.
More on Ken Tainton
Ken is the Rio Tinto Exploration Director responsible for multi-commodity exploration in Africa and Eurasia, based in London.
Ken graduated with a degree in Geology from the University of Natal in South Africa in 1987 and a PhD from the University of Cambridge in 1992. He then joined De Beers/Anglo American as a geochemical researcher, developing analytical and interpretive techniques to support diamond exploration, and supporting their application in active projects through consulting and training. Ken coordinated a review of De Beers’ exploration targeting in 1999 that substantially changed their exploration portfolio. From 2001 to 2003, he was seconded to Brazil as technical advisor to the regional exploration programme, before returning to South Africa as Technical Services Manager for De Beers Exploration.
Ken joined Rio Tinto as Global Laboratory Manager in 2007, with responsibility for aligning operating practice across Rio Tinto Exploration laboratories and optimising service delivery to exploration and operations. In April 2009 he transferred to the Project Generation Group as Principal Advisor – Diamonds and Laboratories. Whilst continuing to hold this role, he held the role of Exploration Executive in the London office between January 2010 and September 2011. Ken assumed the role of Exploration Director for the Eurasia Region, encompassing Russia, Kazakhstan, Uzbekistan and Mongolia, in October 2011. In July 2014, this geographic remit was expanded to include Africa and Europe.
He was author of -GEOLOGY AND EXPLORATION OF THE BRAÚNA DIAMONDIFEROUS KIMBERLITES, SERRINHA BLOCK, BAHIA, BRAZIL, December 2001
Rio Tinto Exploration Finland Oy. New company used for Finland created last May I believe.
Company has 4 Directors, with a number of the directors there for their Diamond experience and expertise apparently.
Very few have noticed the names on the board.
Arnaud Jean-Francois Christophe Brion, (5/2020)..........diamonds
Franciscus Theodorus Schauwaert, (5/2020)............diamonds
Jonathan Guy Beswick, (5/2020).............diamonds, copper/gold
Kenneth Melbourne Tainton, (5/2020)
Take the first two names - Arnaud Jean-Francois Christophe Brion, (5/2020) and Franciscus Theodorus Schauwaert, (5/2020)
-Announcements about Rio Tinto Diamonds Netherlands BV 2014:
? 2014-07-04: Change: Director Arnaud Jean-François Christophe Brion took office on 26-6-2014.
? 2014-07-04: Change: As of 26-6-2014 the authorization of Director Franciscus Theodorus Schauwaert has changed. Rio Tinto Diamonds Netherlands BV established January 2011.
Arnaud Jean-Francois Christophe Brion - Rio Tinto - 15 yrs and 4 months-General Manager- Commercial -Nov 2008 - Present-12 years and 6 months-Rio Tinto Exploration-Project Generation Group covering Europe, Austalasia, Africa and the Americas
3rd name.......Jonathan Guy Beswick, Rio Tinto 14 yrs - General Manager Exploration, Generative - Africa and Eurasia - Sep 2016 - Present4 years 8 months - Leading a small team of experienced Geoscientists with responsibility for the creation of multi commodity new opportunities, business development and project support in Rio Tinto Exploration's Africa-Eurasia region.
2010 - Sep 2016 - 6 yrs - Manager, Exploration - Central Africa - Leading teams and managing/growing a multi commodity portfolio of early stage exploration projects in Central Africa.
2007 - 2010 -3 yrs - Manager Southern Africa -Managing a portfolio of projects in southern Africa
2005 - 2006 -1 yr - Manager - South Africa and Botswana - Leading teams and managing programmes for diamond exploration
Its gets better! The last of the 4 directors is Kenneth Melbourne Tainton, former Technical Services Manager of De Beers for 15 years - 1992 - 2007. Currently with Rio Tinto for last 13 years and Exploration Director for Rio Tinto since 2011.
Exploration Director – Africa-Eurasia. Growth & Innovation
Rio Tinto - Ken Tainton is the Exploration Director for Africa-Eurasia and is responsible for development and execution for early stage exploration programmes in Southern and Central Africa, Eastern Europe and Central Asia. Ken has been with Rio Tinto for 13 years and has worked for Rio Tinto Diamonds and RTX in Australia, Singapore and the UK. Prior to joining Rio Tinto, Ken held technical management and service delivery roles with De Beers in South Africa and Brazil.
So he was Rio Tinto Diamonds (Argyle) and Rio Tinto Exploration RTX in Australia ( Remember RTX's hush hush massive Winu copper-gold project – aka the worst kept secret in exploration – discovered 2018 . Finland Rio best secret?
In light of broker coverage, thought I would repost this.I would suggest that the current £3m market capital is a very long way off the mark here. However, it appears to keep the company under the radar and this perhaps feeds into the company agenda. This is diamonds after all.
Karelian Diamonds look to be sat on an emerging diamond province. They also look to be holding all the cards, especially since the Rio agreement was not renewed. One can only assume that Karelian did not renew it, as it would be daft for Rio Tinto to not renew it.
Karelian raised and spent a large amount of money on exploration in 2014-2016, probably more than their current market capital. Following this, the company looks to have concentrated on locking down the land. KDR appear to have been given approx £30m worth of confidential Finland exploration information from Rio Tinto, prior to the 2014-2016 period of intense activity.
What are Karelian Diamonds Assets? How valuable are they?
I don't know, but this is what I think.
1. Lahtojoki - Awaiting Mining Permit from Tukes (Finnish Authority) for a Diamond Mine. 7% Fancy diamonds, At least 3% Pink, 60% Gem Quality, 90,000 carats per single tonne was discovered there (see Peltonens Paper), Thats 1% Diamond I believe.
2. Lahtohoki South - Awaiting Results - Appears to be a big deal or wouldn't be wasting time there
3. Anomaly 5 - Green Diamond found - Quantum step for company - A mystery
4. Riihivaara - Likely to be diamondiferous - A lot of money spent here and Rio classified as a high category discovery - A mystery
5. Seitapera - 7ha - largest kimberlite in Finland - plenty of diamonds here - Rio liked
6. Salla - A huge mystery - Cant wait for results from here
7. Liperi - Yellow diamond found - Another huge mystery - Again can't wait for results from here.
All the key diamond ground locked down by KDR alone. There is no way on earth this company is only worth £3m. Finland is rumoured to be the next diamond rush and possibly the last one after Canada.
I have no idea what KDR is or could be worth, but would be interested to get some opinions. Also if anyone knows of another diamond exploration company with KDRs potential, I would also be interested to hear, as I cannot find any. I find the market capital astonishing here.