Karelian Diamond Resources plc
Karelian Diamond Resources plc (AIM: KDR) is a pre-revenue mineral exploration company incorporated in Ireland, focused on diamond exploration in Finland (notably the Lahtojoki diamond deposit and the Kuhmo region) and on nickel, copper and platinum-group-element (and diamond) exploration in Northern Ireland. The Company's strategy is to advance the Lahtojoki deposit toward mine development/production (now that a mining concession has been granted) while continuing exploration in Kuhmo and Northern Ireland, including a new copper target at the historic Cappagh Copper Mine.
FY2025 in sixty seconds
year to 31 May 2025 · approved 25 Nov 2025 · 28 pages · Company website
Karelian Diamond Resources plc explores for diamonds in Finland and for nickel, copper and related metals in Northern Ireland, and has no revenue yet. It made a loss after tax of €279k in the year to 31 May 2025, against a loss of €237k the year before, although its operating loss narrowed to €365k.
The main event was regulatory: the Finnish authorities granted a mining concession for the Lahtojoki diamond deposit, giving the company the right to use the minerals there. The company raised €774k by issuing new shares to fund its work. Cash at the year end was €41k, with borrowings of €132k.
The board intends to speed up work in Finland and is seeking a strategic investor to take Lahtojoki through to production, which the chairman does not expect to be easy. The auditors flagged a material uncertainty over the company's ability to keep trading: its short-term liabilities exceeded its short-term assets by €1,913,340, and it relies on raising more money and on directors and former directors not seeking repayment of €1,614,885 owed to them.
"The Company has again made progress towards developing its targets in both Finland and Ireland and it is the Board's intention to now accelerate the pace of the work, particularly in Finland where we have the opportunity to move towards the development of a producing diamond mine." — Brendan McMorrow, Chairman
page 110 June 2025: Lahtojoki mining concession registered by the Finnish National Land Survey (TUKES registration K7363), entitling the Company to utilise the minerals and proceed to the next stage of work.
page 28Auditors concluded the directors' use of the going concern basis is appropriate but identified a material uncertainty: the Company incurred a loss of €279,357 in FY2025 and had net current liabilities of €1,913,340 at year end, which may cast significant doubt on the ability to continue as a going concern. The audit opinion was not modified in respect of this matter. Directors reviewed cash flow forecasts to 30 November 2026, note reliance on director forbearance on repayment (€1,614,885) and on raising funds via strategic partnerships or direct market fundraising.
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EUR millions, negatives in brackets. Per-share lines in cents. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
3 figures restated in a later report
Every figure is read again from the following year’s report: 211 confirmed, 15 differ, 3 restated.
No figure has been restated: every figure a later report printed again, it printed the same.
3 more figures were restated in FY2015 to FY2022, which a free account opens.