AIM dealings start tomorrow in Karelian Diamond Resources, which has raised £500,000 at 5p to advance Finnish gem prospects.

Valued at around £2 million, Karelian holds 57 claims in Finland's 'Karelian Craton', an ancient 'crustal' block extending over the border into Russia. Another of Richard Conroy's stable of small prospecting concerns, Karelian was created last year by amalgamating Finnish diamond interests held by his private company Conroy Plc and those of AIM-quoted Conroy Diamonds and Gold.

City Capital is broker and John East nominated adviser to Karelian, most of whose claims lie in the Kuhmo block close to the Russian border, a district that includes a known diamondiferous kimberlite pipe at Seitapera.