Member Info for Yogi1

Worth another view

https://www.middiamonds.com/the-diamond-blog/could-finland-be-the-site-of-the-next-diamond-motherlode/

Kevin McNulty the KDR geologist, like Roy Spensor/Buddy Doyle knows how to find Kimberlites. All are excellent.

Patrick Power, the CEO of Arctic Star said " the diamond exploration market is kinda us (Arctic Star), North Arrow, and one other group out of the UK....those are the real people".

He meant KDR (Irish, but UK market). There is no other he could mean.

Amazing he didn't mention KDR by name, especially since he followed KDR into Finland looking for diamonds and is the only other with kimberlites in finland, along side KDR. Isn't it very odd that he called KDR "one other".

Isn't it odd that Arctic star suddenly concentrated on Canada whilst putting Finland on hold . Isn't is odd that Roy Spensor, Arctic Stars Finland manager stepped away from arctic star (to return as a consultant at some time in future), as a footnote in a Canada related rns so as not to draw any attention. Both companies are very much linked to Rio Tinto. More going on here than meets the eye!

"The discovery of the kimberlite boulders in the Lahtojoki south exploration permit licence area, and the subsequent studies which proved the boulders to be altered - hypabyssal kimberlite, - a different form of kimberlite from that present in the Lahtojoki deposit, confirms that these boulders are not derived from the Lahtojoki diamondiferous kimberlite pipe."

Hypabyssal kimberlites are : complex, hybrid rocks containing significant amounts of mantle-derived fragments, primarily olivine with rare diamonds.

Argyle had - Intrusive olivine lamproite dikes

Lamproite is a source rock for diamonds. Rocks containing high volumes of these olivine crystals are often the most rich in diamonds.

So does South Lahtojoki have rare coloured diamonds then?

Roads and bus stops and main power lines running past all these licensed areas. I have checked. You couldn't make it up.

Begs the question why not 20 years ago. KDR had amazing foresight moving into Finland early, and to stay the course over so many years whilst other explorers dropped away, is an extraordinary achievement by management. Quite the achievement for a tiny little minnow like KDR. This £1-2m cap company may have turn out to have assets worth $Billions. I have never known a Junior diamond explorer in such a position. How will the market value that? Roll on Newsflow.

You are correct both have abundant peridotite mantle xenoliths. Very high grade pods. In fact, Seitapera and KDRs work on it was one of the things that attracted Rio Tinto to KDR. They liked what kDR had done on Seitapera. Apparently a lot of the stones were broken, suggesting larger stones and apparently some of the core of Seitapera is very high grade.

Rio need to replace Argyle. I believe Rio see Finland providing the replacement for Argyle. Lahtojoki will help in the shorter term in addressing the pink diamond shortfall, whilst Rio develop Kuhmo. Kuhmo consisting of Seitapera, Anomaly 5, Riihivaara, (the 23 kimberlite anomalies will likely provide a few big pipes) etc. Field of pipes. KDR have the lot.

Between 11 December 2013 to 2 May 2014, KDR raised £2.725m in placings and converted Prof loans + directors fees and salaries to the tune of £900,000. Thats £3.62m over 5 months for works programme at kuhmo.

Now, in 2023, after suggesting the very real possibility that KDR have a world class discovery at Kuhmo (23 very exciting kimberlite targets), KDR raise an amount to contribute to a drilling and excavation programme.....fundraising of £100,000, issue of Convertible Loan for

£112,500 together with Debt Capitalisation of £125,000 and Creditor Conversion of £25,000

When you look at the £3.62m in 2014 , some other party must be footing the majority of the works now, as this is a transformational time for KDR.

I remember reading that when Rio Tinto/ or Ashton discovered Argyle in Australia at the very start, I think they pretended that the geologist who made the discovery was off on maternity leave, when in fact she was following up the discovery on the ground. This was to keep it under wraps. Also, when Debeers were saying there was no diamonds in Canada, right up to the point when the mine started producing them. My point being that Rio are in the background in Finland and once kuhmo results start to come out, they may have to act fast. This can only be a good thing for KDR shareholders.

Mozax, interesting post. I think we must be approaching the showing of hands soon. Then this board will become very busy.

In 2013 BHP Billiton sold all its interest in the Ekati diamond mine to Dominion Diamond Corporation for $553 million on 10 April. world class diamond deposits are extremely valuable.

On November 13, 2012, CBC News reported that the Harry Winston Diamond Corporation, 40% owners of Diavik Diamond Mine, would buy Ekati for US$500 million.

I believe KDR will have a similar situation in Finland. In Kuhmo area, KDR will have high grade deposits, some small, some big too, and a central processing plant for economies of scale. Well KDR wont have them... I suspect Rio will acquire all these assets as soon as the time is right.

Take what I sad about Ekati mine and think what would be paid for KDRs assets if a similar situation. As the prof would say......"it was obvious wasn't it!"

In 2007/08 the deposits of its Lomonosov mine were estimated at $12 billion.

If KDR have something similar, then a major will be willing to pay big money for it. They will want it all.

What would Rio have paid for lomonosov if they had bought it, then think what they may need to pay KDR for a province of mines. The mind boggles at the numbers. Remember the prof said in the interview that we are after a major economic discovery akin to lomonosov.......then later says we have found it now, its taken a long time. Roll on the results of the programme of works at kuhmo.

As the prof himself said, " I don't know of any other diamond exploration company in the world in our position....I'm certainly not aware of one"

KDR market cap 1 -2m is unbelievable to those who understand the possibilities here. Nobody knows of KDR. This is the play book. You don't want anyone moving in next door to you until you have secured the ground. Yes, as the prof said -inevitably there will be a rush.

KDR have been Rio's de-facto arm on the ground in Finland, everything points to that. If Kuhmo is a new diamond province, what do you think the highest bidder will pay for an asset or assets like Lomonosov or Argyle?

For the next 20 - 40 years of diamond market domination, you would be talking massive money. KDR in an unbelievable position.

"A systematic drilling and excavation programme is planned for the coming months, to follow up on and test

these Kimberlite targets for the presence of diamonds.".... the 23 kimberlite targets

All this to happen at same time as Lahtojoki and Northern Ireland.

We know there are fancy diamonds at Kuhmo, I wonder when we will start to get news flow on the drilling and excavation programmes? If this is similar to lomonasov or bigger, it could well be part of Rios plan to replace Argyle. Look at the amount of licences Rio Tinto are taking in Finland for every other mineral but diamonds. They are not stupid, Rio know there is a very good chance there will be a world class discovery on the Finnish side of the border. Rio cannot afford to let another major get their hands on KDR

Language used in rnsToday 20:51

Cgnr… “money to be put towardsFinland exploration “

Kdr……” money to contribute to”

That language to me suggests another party is paying the bulk of exploration costs in Finland for both companies. Maybe I’m wrong, but they always word their rns’s very cleverly. That is a skill in itself.

Cgnr… “money to be put towardsFinland exploration “

Kdr……” money to contribute to”

That language to me suggests another party is paying the bulk of exploration costs in Finland for both companies. Maybe I’m wrong, but they always word their rns’s very cleverly. That is a skill in itself.

Also many here may not be aware that when Rio Tinto gave £40m worth of Finland data to KDR in 2010, this data was not just for Diamonds, it was ground tested for every mineral. This was a confidentiality agreement, renewed in 2014 and that lasted until 2020.

Remember, CGNR and KDR had same staff, management and office in 2010 (mainly still have). So same people will have seen the data. (including gold/copper)

Also of interest is the text of the confidentiality agreement. It refers specifically to Gold also:

"In consideration of Rio Tinto disclosing the confidential information to it, Karelian has

agreed that Rio Tinto will have the option (exercisable at its discretion) to earn a 51 per

cent interest in any project identified by Karelian in Finland by Rio Tinto paying the

direct cash expenditures incurred in developing the project subject to the following

conditions:

1. For diamond projects the option will be triggered if Karelian completes 10 tons or

more of bulk sampling for diamond exploration; and

2. For all other minerals the option will be triggered if Karelian discovers a resource

with an in situ value that is equal to or greater than 3 million ounces of gold in a

JORC compliant resource calculation. "

I think the tranches of data that Rio gave KDR at the time were were worth £40 -£50m or something like that. What many didn't realise, and probably CGNR shareholders too, is that this data was not just for diamonds, it was ground that was tested for everything. So CGNR (same team at the time) geologists would have access to that data too. I wonder do current CGNR shareholders even realise that fact.

The Professor and his team at Karelian would certainly like to change all that. "Finland in a general geological sense is certainly very prospective", he says. Across the border, in an area of Russia which shares the name of the province on the Finnish side, Karelia, some huge diamond deposits have been discovered. So huge that the parties that have been in dispute over them are among the world's biggest players in diamond mining – De Beers and the Russian government.

So the address is right. Karelian Diamonds holds a huge amount of ground across what is widely known as the Karelian craton - 7,000 square kilometres on the Kuhmo licence in east central Finland, and 7,900 square kilometres further south at Joensuu. It's been working away on that ground for several years now, notwithstanding the slowdown during the global financial crisis, and has amassed a sizeable knowledge base of its own. As Professor Conroy reminds us, it may have been Ashton that discovered Seitapera, but it was the Karelian Diamonds team that demonstrated its size.

So the combination of Karelian's ongoing hands-on experience with Rio's extensive database looks like an attractive proposition. Rio certainly thinks so. The clause in the deal that allows it to fund any Karelian project into production in return for a 51 per cent stake looks generous. Cynics will say it was simply off-loading an old database that would otherwise have continued to gather dust on the shelf, and that on that basis it could afford to be generous. But there's no doubt that the terms will certainly encourage the Professor's team to greater feats of geological detective work, and it would hardly be a surprise if a plethora of targets start to emerge over the coming weeks and months. Whether or not they prove to be economic, of course, is a completely different question. But you have to start somewhere. In Rio's case, it's starting, or at any rate re-starting, with a £2.5 million Aim-traded minnow called Karelian Diamonds. It could have done a lot worse.