Karelian Diamond Resources Plc has raised £290,000 through a share issue to fund further exploration on its licences in Fermanagh and Tyrone.

The company holds licences allowing it to search for nickel, copper and platinum group elements in the area.

Proceeds will support work on the licences in Northern Ireland and an ongoing drilling programme at the company's Anomaly 5 prospect in Finland.

Exploration in Northern Ireland has continued since June 2025 when the company identified the location of the historic Cappagh Copper Mine as a target site.

Chairman Brendan McMorrow said the fundraising supports the board's assessment that the company's assets are undervalued.

The company is also addressing deferred payments owed to current and former board members for salaries and directors' fees.

McMorrow said the board plans to align repayment of those amounts with future company success.