focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
I would agree vpkitten. Rio will want this, as will others. It sounds like they already know what the source will bring, given the profs recent comments in interviews. Also sounds like they will only entertain offers involving very serious sums of money. Its always been about finding a world class ore body and sell it to a major.
In my view (dyor) they have another lomonasov (but closer to surface) and possibly 2 big green diamond deposits. Green diamonds were found at Argyle, Ekati, lomonasov and i think Brazil somewhere. They are very scarce. I suspect when the green diamond jackpot is revealed, our £2m cap company could quickly become a £200m mid-tier company.
KDR should get Lahtojoki mining permit around start of June, given the land court meeting on 21 May. Probably take a few weeks for land survey to grant the legal force, and for Tukes to issue the permit. After that, KDR will be in a very strong position and the rush will come. When will the KDR share price start to reflect the approaching Lahtojoki permit? Perhaps in the run up, but who knows with this stock. But after the permit issues, I expect some bombshell rns's. As you say VPkitten, I anticipate outright bids, with Rio front of the line.
If I was a betting man I would see a new company set up for Lahtojoki mid summer and the rest taken over by Rio Tinto. Not sure what will happen with Northern Ireland. Perhaps a major mining company will join CGNR /demir due to the scale of their gold asset,and acquire KDRs Northern Ireland wing at same time. Lots of permutations, but can only see these after the Lahtojoki permit is issued
Lahtojoki was a strategic acquisition by KDR. An Irish newspaper at the time wrote it was acquired by KDR at Rio Tintos request. Though nobody really picked up on that at the time. There is a much bigger picture to emerge after the permit i suspect.
When a major diamond discovery is made, it’s not like other commodities. Major diamond discoveries are so rare that they get taken out for a very large fee… if a diamond discovery is like lomonosov then it would be valued at $billions. A major will part with a very large amount of money to secure 100% of such an asset. What will they pay for 100% of a new diamond province?
Prof says that over in Kuhmo if we make the discovery we think we have, then it will have to be a very major offer indeed. If it is anything like Lononasov or Grib, which is what the 20+ years has all been about, then Kuhmo will be taken out for a price tag well in the hundreds of millions. A major discovery can be deciphered far earlier in 2024 than it could 20 years ago, so there is a fair chance that they already know they have it and this may be confirmed in 2024. If kuhmo is taken with a major offer, the numbers could be astronomical $$$….IMO and DYOR….i expect an interesting summer
We know that Terhi Tulenheimo (Exploration Geologist - Finland, employed by KDR now) was with Roy Spencer at Foriet Oy (Arctic Star). It is interesting that Arctic Star, are suddenly about to press go on Finland again.
Canadian-based Foriet Oy considers the industrial diamond deposits it found in the Suolavaaroi-Tapuliaho area in Kuusamo to be so interesting that it wants to use its continued mining license despite the appeal.
In an application, the company has asked the Finnish Safety and Chemicals Agency (Tukes) that the agency issue an order to implement the company's recently received ore prospecting permit called Suolavaara. The citizens' mining delegation has appealed the permit decision to the administrative court, but the Mining Act gives Tukes the opportunity for such an order. (enforcement order......I think KDR did similar before)
Kuusamo's Suolavaara prospecting permit was objected to again, but the company wants to act despite the complaint - "A significant, diamond-rich kimberlite deposit has been found in the area"
I notice Tukes approved the extension of the ore exploration license for Seitapera today.
In addition, today, Foriet OY (Arctic Star....Roy Spencer) also applied to Tukes for prospecting permit (renewal) and an application to enforce the permit despite the appeal....(they must have encountered some time wasting complainers and are keen to progress without having to wait for an appeal)
I would challenge anyone here to find me another pending diamond mine for pink and blue diamonds anywhere in the world other than KDR. DeBeers said there were no diamonds in Canada and then opened a diamond mine and revealed a whole diamond province. Finland is next. ssh!
Now that I think of it, Argyle had blue diamonds also. Could Finlands new coming diamond province, of which KDR controls all , be the replacement for the now exhausted and closed Argyle mine. Remember Argyle discovery was hidden initially from the public. There are parallels with Finland. Rio Tinto are common to both too.
If i remember correctly, I think 60% of the Lahtojoki diamonds are "gem" quality diamonds.
The previous owners A & G were not really a mining company. More a jewellery company I think.
Coloured diamonds were not as valuable back then. Whilst this deposit may not be very large, it may be extremely valuable. If you have 3% - 6/7% coloured diamonds and we know 60% of them are gem quality. Then you don't need to have many pink or blue diamonds for revenue to be very high. Remember Argyle in Australia was the largest diamond mine in the world, but more than 50% of its revenue came from its 3%-5% pink diamonds. It's now closed and the world is minus 90% of its supply of pink diamonds. Plus russian diamonds are banned. It doesn't take a genius to see that Lahtojoki will be contributing to the shortfall. Permit can issue formally soon after the court date in May. Watch out for blue diamonds too. I remember reading about a blue diamond selling for nearly $50m. One or two coloured diamonds can pay for an entire mine. Remember payment by diamonds has been mentioned before by KDR.
I tend to agree alanos.
Half yearly results are just a copy and paste, box tick exercise, at most, and thats to be expected.
KDR need to come out and explain the permit delay. If the company don't know the reason for the delay, then thats poor management. If the company do know the reason and don't update shareholders, then that is equally poor. There is a selfishness to the way the company is run and managed and that has surprised me and others which is unfortunate. Shareholders are almost like a burden to management. They were not a burden when the directors needed to raise money or needed support etc.
Where is an initiation of coverage from the new broker? Are they waiting for permit first? If the company pull a stroke like the last placing, it will not be tolerated by shareholders again. The company has massive potential value, but need to get moving.
Further announcements will be made on Lahtojoki at “the appropriate time”. That is what they said in March 2023 when they informed us of the one boundary outline appeal. They didn’t say “in due course”. Suggests to me that it isn’t “appropriate” to release any news on Lahtojoki until the permit is formally registered. They have land possession granted in 2022, so there is every possibility they could have a few blue and pink diamonds to announce at the appropriate time…Certainly think its not an appropriate time to announce the Lahtojoki JV or backing until permission formally issued.