"Beowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, announces that The Government of Sweden has asked the Mining Inspectorate of Sweden to review the Company’s application for an Exploitation Concession for Kallak North in the context of the recent Supreme Administrative Court judgement in the case of the Norra Kӓrr project.
Kurt Budge, Chief Executive Officer, commented:
“I am pleased that we have movement on our application and believe it is in the best interests of our stakeholders in Sweden, and our Swedish and non-Swedish shareholders, that our application be further reviewed by the Mining Inspectorate, so that any future award of the Exploitation Concession is consistent with the Supreme Administrative Court’s judgement in the case of the Norra Kӓrr project.
“Beowulf has been permitted to operate in Sweden for over 10 years and in that time has invested over SEK 67 million, defined a substantial orebody at Kallak, with the potential for further expansion, and produced a ‘super’ high grade 71 per cent iron content magnetite concentrate.
“Last year we gained the support of the County Administrative Board (“CAB”) for our application and the recommendation of the Mining Inspectorate that the Concession be awarded. The Norra Kӓrr judgement meant that a further review of our application was inevitable, but we maintain, for this stage of permitting, that our Environmental Impact Assessment has provided the required level of technical detail, including comprehensive studies covering all activities associated with a future mining operation and their impacts.
“Kallak has the potential to create economic benefits for Jokkmokk, the County of Norrbotten and Sweden, and this was recognised by the CAB almost a year ago. Beowulf, now 46per cent owned by Swedish shareholders, is looking forward to engaging and working in partnership with its stakeholders in Jokkmokk, to develop a modern and sustainable mining operation to deliver these benefits.”
I had a fairly decent post-Referendum chunner lined up to be posted, which I've saved, but probably unwise to post yet, as I'm still absolutely devastated. Lol.
So, after what happened last week, another six months holding here should be a breeze. I won't be that chuffed, don't get me wrong, but I only ever expect delays now, and because of the almost unbelievable amount of trials and tribulations with BEM, it is actually, in a positive way, becoming more and more difficult to view the share with any level of seriousness. Lol.
Don't be too disheartened I'm actually an immigrant who voted leave, I've always been cynical about my vote for the last 32 years and I cant believe for once I've actually won, been a silent leave in a number of different countries ever since the early nineties when the original EU hired a top notch accountant (can't remember her name ,French lass with a strong voice) because she wouldn't sign off the accounts as they were highly subject to fraud. EU politicians didn't like her verdict so instead of investigating what the problem was they sacked her. Lost my vote ever since and haven't seen anything to make me go back. Always thought Sepp Blatter was one of the best EU presidents they never had !
I'm out of here. Back at Christmas, when I expect the decision to be announced.
All is well with the world. It will be a decent grapefruit harvest this year in the garden. The limes are doing rather well, as are the lemons. The grapes have all been eaten by bugs and birds and the satsumas are doing so-so.
From memory I'd say she didn't say that. What she said is that some of the cases that have been judged recently would not have been granted in the light of the Norra Karr ruling, she didn't mention any application in particular.
I think the chances of a yes are pretty good, but I recall a comment by Åsa Persson to the effect that if the inspectorate is required to take the same wide reading of the Kallak project as the SAC required of Norra Karr, it would mean a no to the concession. That is worth looking into.
I am sure she can be asked, or perhaps her statement is online if someone cares to dig.
Yes there is Viking sword too. But lets see what Kurt is going to announce tomorrow. After the announcement we could perhaps have a bit more clear picture. And what we have to do now in my opinion it is to be calmly vigilant and observe the whole situation very carefully. Now it could be unique situation connect with both new difficulties together with really good opportunities to increase our holdings.
I'm extremely sad tonight but not about the six months, that will pass but the referendum decision will not pass. Don't worry about my money, I'm happy to wait for this to unravel and I like this adventure. You keep telling us you like to make money in more reliable ways, well so you can if that's what you like to do, nobody's trying to make you buy these shares. And we can agree about one thing at least.
Do I dare say nighty night all...yes, of course I do. X
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