AIM-listed Karelian Diamonds (KDR) has had six months to release its full year numbers to the end of May. For a company with no income and operating expenses of €447,000 one can only wonder why it took a full six months to get the numbers out – but the Red Flag of releasing them after everybody in the City has gone home is surely a warning. And so at 6pm last night came the results RNS – no-one-is-watching o’clock. But ShareProphets was watching…..
I’ve made no secret that I view AIM-listed Karelian Diamonds (KDR) as a lifestyle company, as per its big brother (and under largely the same management), AIM-listed Conroy Gold and Natural Resources (CGNR). Both have achieved very little, both have balance sheets in a total mess and shareholders in both have endured massive shareholder value destruction over the years. In July a group of shareholders forced a sack-the-board EGM but as per CGNR last year, the vote went against them. Now they are back for round two.
Oohhh goodie! It was announced on Friday morning that AIM-listed insolvent POS Karelian Diamonds (KDR) had received a EGM requisition to sack the board……but due to a technicality the requisition received was not valid. However, on the expectation that another is on the way minus any technicalities causing problems, it looks as though the Prof Richard Conroy soap opera is set to take another turn.
Someone wants to gag the free press and has sent me a fascist and ludicrous lawyers letter. But who wants to suffer the curse of the Sheriff? make your guesses in the comments section below. It is not Neil Woodford but I discuss his woes, I look at Karelian Diamonds (KDR) and offer to back those wanting to sack the board, comment again on BlueJay (JAY) and its porky pie and look at results from Audioboom (BOOM). Finally, my cats are now showing their teeth as trained vermin killers.
With its sister company, Karelian Diamonds (KDR) having published interims a couple of weeks back showing balance sheet in all sorts of trouble, this morning Conroy Gold and Natural Resources (CGNR) took its turn – where we find the same problem, and some class comedy from the good it’s the way I tell ‘em Professor.
This morning AIM-listed Karelian Diamonds (KDR) - the Prof Conroy sister to Conroy Gold and Natural Resources (CGNR) - offered up its Interims to the end of November. Prof Conroy was pleased, but should shareholders be enthused?
AIM-listed Karelian Diamonds (KDR) rather bucked the trend yesterday when it put on 10.6% on a day the markets were again sinking. We all know Karelian needs a placing urgently, to keep the lights on. So what caused the rise? Oh, hang on, there are three RNSs which were released just after 3.40pm – and they are all good 'news', except for one small detail…
I start with a few comments on the thoughts of top broker Andrew Monk who is normally bang on the money but on a couple of recent points wrong. Then it is onto Conroy Gold & Natural Resources (CGNR), Karelian Diamonds (KDR), Fishing Republic (DOG), Bushveld Minerals (RAMP) and ITM Power (ITM).
Getting my excuses in early: if I make any errors it is because I cannot see properly for reasons I explain. I then look at Aortech (AOR), Eden (FRAUD), Aurum Mining (AUR) as in David Williams, Karelian Diamonds (KDR), Falanx (FLX), in real detail FastForward (FFWD), another hugely overvalued ramp in which my good friend Jim Mellon is involved and finally Hotel Chocolat (HOTC) where I have misgivings. For photos of chocolate as art taken by me on Monday go HERE
Featuring Bacanora Minerals the shares of (BCN), CEB Resources (CEB), Karelian Diamonds (KDR), MX Oil (MXO), Rare Earth Minerals (REM), SolGold (SOLG), together with some share price targets.
Dublin-based Karelian Diamond Resources (KDR) is enthusing about a new kimberlite discovery in the Kuhmo area of eastern Finland. The AIM-quoted company, for long unloved by investors, has seen its shares bounce from a 12-month low of 0.85p to 1.48p before easing back to 1.27p, well below their year’s high of 3.45p and 2005’s 5p float price, following the discovery of indicator minerals, such as garnets, near its Riihivaara target in Kuhmo, part of the wider Karelian gem Craton, straddling the Russo-Finnish border.
Karelian Diamond Resources (KDR) is celebrating the discovery of ‘a high concentration of indicator minerals’ at Riihivaara in eastern Finland, which the Dublin-based company claims should indicate the presence of a new kimberlitic diamond source in the Scandinavian country’s Kuhmo region. Chaired by veteran entrepreneur, medical academic and former Irish senator Professor Richard Conroy, Karelian says Riihavaara, where it has recovered the minerals in the form of G9 and G10 garnets, lies to the south-east of Seitapera, where it claims already to have outlined ‘the largest diamond-bearing kimberlite pipe to have been discovered in Finland to date’.