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Karelian Diamond Resources raises funds for drilling campaign at Lahtojoki The company said the £600,000 will be used to investigate the prevalence of pink diamonds discovered at the site in Finalnd Karelian Diamond Resources PLC (LON:KDR) said it raised £600,000 through a placing and subscription and a debt to shares conversion to fund drilling at its Lahtojoki diamond deposit in Finland. The company said the placing and subscription were comprised of 13mln shares at a price of 4p each, a 19.2% discount to its closing price on Thursday, to raise £520,000. In conjunction with the placing a...

Karelian has built up a huge store of knowledge in regard to the prospectivity of Finland Karelian Diamond Resources PLC (LON:KDR) has observed mantle garnet minerals in boulder material in the vicinity of its Lahtojoki diamond deposit in Finland. These minerals are typical of mantle detritus found in kimberlite that indicate that this boulder material represents cooled magma derived from the Earth’s mantle. Garnets are a standard indicated for diamonds, and the results provide further evidence of the potential existence of an undiscovered diamondiferous kimberlite near to Lahtojoki. The co...