Karelian Diamond Resources

Karelian Diamond Resources PLC is an Ireland-based company which focuses on the discovery of diamond deposits in Finland. It is engaged in exploring for diamonds and evaluating an existing diamond prospect (diamondiferous kimberlite pipe) in the Karelian Craton of Finland.
Deal price
1.5p
Discount of 38.8 %
Last Price 2.45p p

Key information

Key information

Sector

Basic Materials

Close date

Delivery

Placing price

Last price

Discount

Amount raised

1.5p

2.45 p

38.8 %

£328,000

Company description

Karelian Diamond Resources PLC is an Ireland-based company which focuses on the discovery of diamond deposits in Finland. It is engaged in exploring for diamonds and evaluating an existing diamond prospect (diamondiferous kimberlite pipe) in the Karelian Craton of Finland.

Use of proceeds

Funds raised will be used to carry out a follow-up exploration programme for Nickel-Copper-Platinum Group Elements on Karelian's licences. Funds will also be used by the Company to continue its diamond exploration and development programme in Finland, where, at Kuhmo, it has already discovered a green diamond in till, and appears close to discovering its source and, at Lahtojoki, is awaiting final permission to proceed with the development of a diamond deposit. In addition, funds will be used to provide additional working capital for the Company.

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