Very encouraging, not seen it like this in years! Hopefully it's sustainable. As you say, if we can get around 5p before the concession is hopefully granted that would be great. Barring any JV partners it will make raising money at a new sp much better for us and alot less dilutive.
Question are you asking because you have no knowledge of Beowulf Mining and are just looking to invest? Or other reason.
My Answer: Since i have a good insight in Beowulf Mining simply put it is down to the wire on its Swedish Iron ore prospect in the sense it is awaiting approval or not from the Swedish Government.
A YES is crucial even a moderated, Yes but insurance and environmental issue to consider must be reviewed because this is BEM flagship project and probably 80-90% of current share price is attributed to Kallak.
A NO vote will be very bad wiping away a large portion of share value and leaving BEM to face some serious hurdles and deciding what value Kallak is.
Now we have a recent glimmer of insight from the Swedish government body here:
25 February 2013
Beowulf Mining Plc
("Beowulf" or the "Company")
Kallak Iron Ore Project's strong resource base earns it designation
as an Area of National Interest and Operational Update
Beowulf (AIM: BEM; Aktietorget: BEO), the AIM and Aktietorget traded mineral exploration company focussed on developing its Kallak North and Kallak South iron ore deposits in northern Sweden, announces that such deposits have been designated an Area of National Interest for minerals ("ANI" or the "Designation") by the Swedish Geological Society ("SGU").
The Designation affords protection, to the extent possible, against competing land use and measures that may hinder future potential mineral extraction in the Kallak project area. The Designation was granted because the SGU has deemed that the area contains "deposits of substances or minerals of national interest".
Clive Sinclair-Poulton, Executive Chairman of Beowulf, commented:
"We are delighted with the SGU's decision to designate our Kallak deposits as an Area of National Interest with respect to its valuable mineral content. The Designation should be taken into account by the relevant Swedish authorities when assessing the group's future Kallak permitting applications and be of great assistance as we proceed to prove up the project's significant iron ore potential.
"We believe that this important milestone demonstrates the government's appreciation of the considerable potential benefits that the Kallak iron ore deposits could yield for the Swedish economy and continuing support for the mining industry
Some Monday mornings, it seems like a sensible option. MMs seem to be letting this ride for a change. Sustained daily volumes here and in Sweden over tha past 3 weeks along with a steady rise in SP is a new and very encouraging trend. If we can get up near 5p before the licence is granted, a much better platform for take off would the be prepared. ATB.
on the one hand this is rise ahead of news could see steady daily gains BUT swedish government is notoriously tightlipped and an RNS saying yes will see 250% gain IMO no RNS then saying they see no reason it would be clear why.
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