Karelian Diamond Resources PLC (AIM:KDR, FRA:KJY1) shares dropped, losing around 20% to 0.4p, after it posted interim results that highlighted its progress with early-stage exploration across Northern Ireland and Finland.
The AIM-listed explorer reported a loss after tax of €165,591 for the six months to 30 November 2025, compared with a €121,186 loss a year earlier, and noted that it finished the half-year (30 November) with €27,711 of cash, whilst its net assets stood at €10.18 million. The company meanwhile, noted it is weighing a number of funding options to secure capital to further future work programmes.
“The company is looking forward to progressing with the work programmes on its highly prospective Nickel, Copper and Platinum Group Element targets in Northern Ireland (including a tangible Copper target) and a clear work programme and strategy has been identified for its exploration assets in Finland," Karelian chair Brendan McMorrow said.
"The board remains confident regarding the prospects for the company.”
Operationally, Karelian highlighted it holds a licence package covering more than 1,000 square kilometres in Northern Ireland, where it is targeting nickel, copper and platinum group elements, and noted the work by consultant Dr Larry Hulbert to build an integrated geological database.
Follow-on activity includes a Trinity College Dublin enterprise partnership focused on PGE potential, alongside an investigation of the historic Cappagh Copper Mine as a new target.
In Finland, Karelian said exploration continued in the Kuhmo region, with geophysical “Anomaly 5” a priority target, while at the Lahtojoki diamond deposit, it flagged receipt of a mining concession certificate in June 2025.
The company said its efforts in recent months have been focused on securing strategic or partnership finance to progress development.