Beowulf Mining PLC - natural resource developer and explorer focused on the Nordic region - Agrees to loan financing from Nordic institutional investor Formue Nord Markedsneutral AS of SEK22 million, which amounts to about GBP1.8 million before expenses. Beowulf says the financing supports its ambition to have Kallak producing high-quality iron ore products in 2026. "The company is working with ESG, environmental and engineering consultants on environmental baseline studies and the completion of a Scoping Study timetabled for Q4 2022," it says.
Chief Executive Officer Kurt Budge says: "The Beowulf team is focused on what can be delivered over the next six months. In particular, the completion of the Kallak Scoping Study, timetabled Q4 2022, and other workstreams on the critical path to submitting an application to the Environmental Court by Q4 2023."
Current stock price: 4.68 pence, up 9.0%
12-month change: up 20%
By Xindi Wei; xindiwei@alliancenews.com
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Beowulf (BEM)