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Karelian FY losses rise

By BFN News | 09:44 AM | Wednesday 29 November, 2017


Karelian Diamond Resources posts an after-tax loss of €410,814 for the year to the end of May - up from €258,734 last time. The company had net assets of €9,456,035 (2016: €8,470,973). The company said the year was one of great success in the exploration field, including the discovery of a diamond in till in the Kuhmo region of Finland. Chairman Professor Richard Conroy said that as a matter of priority the company was now engaged in an exploration programme to discover the source of the diamond. 'We have a combined diamond exploration and development programme in place as we look to develop the Lahtojoki diamond deposit, which has the potential to become the first diamond mine in Europe (outside Russia), improve our knowledge of the Riihivaara pipe and to identify the source of the diamond.' At 9:44am: (LON:KDR) Karelian Diamond Resources PLC share price was 0p at 0.38p Story provided by StockMarketWire.com

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