RE: Prelims RNS28 Feb 2018 07:24
Kurt Budge, Chief Executive Officer of Beowulf, commented:
"With so much attention on the Kallak process, it's easy to overlook how much the Company's exploration team has achieved at both our Aitolampi graphite project and our �tvidaberg licence during the year. We are currently in a good position for a busy and productive 2018.
"We are already back drilling at Aitolampi. The driller is making rapid progress, and we have therefore decided to drill the full 2,000m programme in a single campaign, giving ourselves a head-start with resource development and study work.
"With �tvidaberg, a short geophysics programme will get underway in March 2018, and we hope to use the findings to define drill targets for copper and zinc mineralisation at Bersbo. Our 3-D modelling last year and the analysis of historic mining records, showed us that miners previously stopped at around 350m in high-grade zinc ore which they could not process. The orebody is seemingly open at depth and has reported zinc grades of over 30 per cent in places.
"Returning to Kallak, we have been given another opportunity by the Government to provide final comments in support of our application, with a deadline of 5 March 2018. After this date, the Company will be seeking clarification on timing and next steps in the process.
"It is difficult to attach any credibility to the CAB's statement from last November, which not only contradicts its July 2015 position on the economic case for a mine at Kallak, but also seems to ignore the Swedish Environmental Code socio-economic assessment criteria for evaluating whether to conserve or utilise natural resources, such as the Kallak deposit, which references the need to safeguard investment and employment, and give consideration for a municipality's financial situation. The CAB gives the impression that it knows better than the municipality of Jokkmokk, on what's best for Jokkmokk and its future, and it has chosen not to listen to local voices who want investment and job creation.
"Since October 2014, the CAB has, on numerous occasions, stepped outside the prescribed process for an Exploitation Concession. The system in Sweden has never challenged nor corrected it. This has cost the Company and, with the latest rankings from the Fraser Institute, published 22 February 2018, it appears to be costing Sweden, as the country has fallen eight places to 16th on Investment Attractiveness.
"In January 2017, I spoke in Stockholm on the comparative advantage of doing business in Sweden. What should be a real advantage to Sweden, is being damaged by uncertain application processes, a distinct lack of respect shown by Swedish authorities for mining companies and their permit applications, scant regard for the significant investments being made and the potential job opportunities being created.
"We hope that the Government now looks objectively at the facts, the Company'
Sign In
Follow the stocks
