Beowulf Mining PLC Share Price Movement (1897U)
December 01 2021 - 4:00AM
UK Regulatory
TIDMBEM
RNS Number : 1897U
Beowulf Mining PLC
01 December 2021
1 December 2021
Beowulf Mining plc
("Beowulf" or the "Company")
Share Price Movement
Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and
development company, notes the recent increase in the share price
in Stockholm and London, which follows positive comments by the new
Swedish Prime Minister about the need for more mines in Sweden and
the new Minister of Enterprise and Innovation about 'taking action'
in the matter of Kallak.
The Company will be writing to the Minister and seeking
clarification on the remaining assessment process in the Kallak
case and the timing of a decision.
Enquiries:
Beowulf Mining plc
Kurt Budge, Chief Executive Tel: +44 (0) 20 7583
Officer 8304
SP Angel
(Nominated Adviser & Broker)
Ewan Leggat / Stuart Gledhill Tel: +44 (0) 20 3470
/ Adam Cowl 0470
Blytheweigh
Tim Blythe / Megan Ray Tel: +44 (0) 20 7138
3204
Cautionary Statement
Statements and assumptions made in this document with respect to
the Company's current plans, estimates, strategies and beliefs, and
other statements that are not historical facts, are forward-looking
statements about the future performance of Beowulf. Forward-looking
statements include, but are not limited to, those using words such
as "may", "might", "seeks", "expects", "anticipates", "estimates",
"believes", "projects", "plans", strategy", "forecast" and similar
expressions. These statements reflect management's expectations and
assumptions in light of currently available information. They are
subject to a number of risks and uncertainties, including, but not
limited to , (i) changes in the economic, regulatory and political
environments in the countries where Beowulf operates; (ii) changes
relating to the geological information available in respect of the
various projects undertaken; (iii) Beowulf's continued ability to
secure enough financing to carry on its operations as a going
concern; (iv) the success of its potential joint ventures and
alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding
any mineral project at an early stage of its development, the
actual results could differ materially from those presented and
forecast in this document. Beowulf assumes no unconditional
obligation to immediately update any such statements and/or
forecast .
About Beowulf Mining plc
Beowulf Mining plc ("Beowulf" or the "Company") is an
exploration and development company, listed on the AIM market of
the London Stock Exchange and the Spotlight Exchange in Sweden.
Beowulf's purpose to be a responsible and innovative company
that creates value for our shareholders, wider society and the
environment, through sustainably producing critical raw materials,
which includes iron ore, graphite and base metals, needed for the
transition to a Green Economy and to address the Climate
Emergency.
The Company's asset portfolio is diversified by commodity,
geography and the development stage of its various projects.
The Company's most advanced project is the Kallak iron ore asset
in northern Sweden from which testwork has produced a 'market
leading' concentrate of 71.5% iron content. Across the Company's
exploration licences, 389 million tonnes of iron ore mineralisation
has been estimated, which represents a potential source of supply
for fossil-free steel production in Norrbotten for decades to
come.
Grafintec (previously Fennoscandian Resources), a wholly-owned
subsidiary, through its Memorandum of Understanding ("MoU") with
Epsilon Advance Materials Limited ("EAMPL") is enhancing its
position within the Finnish battery ecosystem, collaborating with a
strong and innovative technology/processing partner, with plans to
develop an anode materials plant in Finland to supply the growing
lithium-ion battery sector.
In Kosovo, the Company owns approximately 49.4% of Vardar
Minerals ("Vardar"), which is focused on exploration in the Tethyan
Belt, a major orogenic metallogenic province for gold and base
metals. Vardar is delivering exciting results for its Mitrovica
licence which has several exploration targets, including lead,
zinc, copper and gold. It also has the Viti licence which is
showing potential for copper-gold porphyry mineralisation. With
Beowulf's support, Vardar is focused on making a discovery.
Kallak is the foundation asset of the Company, but with Vardar
and Grafintec, the Company has many opportunities to grow, each
business area displaying strong prospects.
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END
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