The Company was established in 2005 though the purchase of Karelian Diamonds Limited from Conroy Diamonds and Gold P.l.c. and Nordic Diamonds Limited from Conroy P.l.c. in 2005, together with all intellectual property and confidential proprietary data relating to the diamond exploration programmes in Finland of those two companies.

The Company’s strategy has been to achieve its objectives by means of an exploration approach based on a highly focused and cost effective methodology. This strategy has resulted in the identification, at Kuhmo in Eastern Finland, of a green diamond and a series of potentially diamondiferous kimberlite targets, the discovery, at Riihivaara,  also in the Kuhmo area, of a new kimberlite body.

The Company has also acquired the Lahtojoki diamond deposit in the Kupio-Kaavi region of Finland. The deposit has a significant percentage of pink diamonds. A mining permit to proceed with development is being processed. Lahtojoki would be the first diamond mine in Europe.

An exciting new development for the Company is an exploration programme for nickel, copper and platinum group metals following positive results from a stream sampling programme in Northern Ireland.

The Company’s shares were admitted to trading on AIM on September 1st, 2005 and to trading on the ESM market of the Irish Stock Exchange on December 7th 2009