Karelian records loss of 194,126

Karelian Diamond Resources announced a loss after tax of €194,126 for the year to the end of May 2009 compared to a loss of €268,638 in 2008.

However, the company said it had a period of “further positive findings” from its diamond exploration work at Seitaperä and in the Kuhmo area of Finland.

Net assets as at May 31st, 2009, were €3,712,312 compared to €3,865,379 in 2008.

Operating expenses were €194,342 in 2009 and €280,720 in 2008, while total liabilities stood at €1,190,534 for 2009 compared to €443,454 the previous year.