Karelian Diamond Resources PLC (LON:KDR) turned in a loss of €447,000 for the year ended May 2020.
During the period the company was granted additional reservations, adjacent to already held and known kimberlite bodies in Finland.
A formal right of way was also granted giving vehicular access to the Lahtojoki diamond deposit and surrounding areas.
Analysis of available data and reports in relation to Lahtojoki suggest that coloured stones could amount to as much as 7% of the diamond content of the deposit.
The company raised £420,000 in new money in August.
”The company has moved closer to the development of the diamond mine at Lahtojoki, and based on the data available we are confident that it has a significant proportion of high value coloured stones within the deposit,” said chairman Richard Conroy in the final results statement, released after the London market close on Monday.