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Karelian Diamond Resources PLC - Finland and Northern Ireland-focused diamond and platinum group metals exploration company - Announces placing of 21.9 million shares at 1.5 pence each to raise about £328,747 before expenses. The issue price is a near 39% discount to the closing mid-market price of 2.45p per share on Friday, Karelian says. The funds will be used to carry out a follow-up exploration programme for nickel-copper-platinum group elements on the company’s licences. Further, they will be used to continue Karelian’s diamond exploration and development programme in Finland. Chair Richard Conroy says: ‘This fundraising comes at an exciting time for the company. We have recently announced a very positive independent report on the potential of our nickel copper platinum group elements licences which we look forward to following up immediately. We are also at a very advanced stage in our diamond exploration and development in Finland.’ Current stock price: 1.60 pence per share, down 35% on Monday afternoon in London 12-month change: down 42% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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