Beowulf Mining PLC - minerals and metals exploration company with operations in the Nordics including the Kallak iron ore asset in northern Sweden - Says that its planned consolidation of 100% ownership of Vardar Minerals Ltd has been delayed due to an unspecified "administrative issue". The transaction was expected to close on Friday, but the company now says that completion will take an additional two weeks. Vardar is a Balkans-focused exploration company in which Beowulf currently holds a 61% stake. Beowulf previously said that the consolidation would provide it with "full control and flexibility to drive the development of Vardar", as well as its exploration portfolio in Kosovo.
Current stock price: 0.77 pence per share, up 2.3% in London on Friday
12-month change: down 65%
By Hugh Cameron, Alliance News reporter
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Beowulf (BEM)