Member Info for tintin35

Better than Tulu!

We are very pleased with the results to date of the drilling at our copper-gold-zinc-silver discovery at Hawiah in Saudi Arabia. Hawiah already appears to have a more valuable metal content than Tulu Kapi in Ethiopia as we have only drilled the top of the system, which remains open at depth below all zones drilled to date.

"The rapid pace of progress since completing the first drill hole in October 2019 is testament to our excellent team at G&M, managed by KEFI and tightly integrating the specialist personnel contributed by KEFI and our Saudi Arabian partner ARTAR."

all good
Hawiah Exploration Update



Stage 2 Programme Completed With 69 Drill Holes

Assays Re-Affirm Three Separate Zones for Potential Mining

Further Targets Remain

Inaugural JORC Resource Targeted Mid-2020



KEFI Minerals (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to provide an update on the ongoing exploration programme at the Company's Hawiah exploration project in Saudi Arabia. KEFI's operations in Saudi Arabia are conducted through its 34% owned joint venture company, Gold and Minerals Co. Limited ("G&M"), where KEFI is the operating partner.

G&M has now completed Stage 2 of the Hawiah diamond drilling programme, increasing the number of completed diamond drill holes to 69 since the first drill hole in October 2019.

Copper-zinc-gold-silver sulphide mineralisation has been intercepted in drilling consistently over more than 4km of strike length, with intercepts within the supergene zone of up to 4.4% Copper over a 6m true width interval, including 5.8% Copper over a 3m true width. The results re-affirm the large-scale Volcanic Massive Sulphide ("VMS") style of mineralisation that underlies the +4km long surface gossanous ridgeline. Assays have been received for 59 of the 69 drill holes and confirm the positive progress towards delineating an initial Mineral Resource in accordance with the JORC Code in mid-2020.

Sufficient drilling has now been completed to identify three zones with the following preliminary parameters for potentially mineable massive sulphide lodes, with all zones remaining open at depth:

· The 'Camp Lode': 1.2km long, with an average width of 7.5m with the widest intersection of 20m found at a depth of 90m. The lode has been drilled to a depth of 300m where 9m true width of massive sulphide was intersected;

· The 'Crossroads Lodes': 800m long, with an average width of 5m with the widest intersection being 8m true width. This lode has been explored to a maximum vertical depth of 350m where 7m of massive sulphide was intersected; and

· The 'Crossroads Extension Lode': 1,000m long, with an average width of 5m with the widest intersection being 12m true width. This lode has been explored to a maximum vertical depth of 270m where 9m of massive sulphide was intersected.

Drilling spans over 4.4km of strike length of the prospect with a current drill spacing on the Camp and Crossroads Lodes of approximately 150 x 150m, with only few short scout holes drilled into the Central Area

Assay results, which were held up until recently due to a COVID-19 induced temporary suspension of operations at the assay laboratory, to date indicate the following approximate average grades within these lodes:

· Camp Lode: Copper 1.2%; Zinc 0.9%; Gold 0.5g/t and Silver 9.7g/t over an average true width of 7.5m, approximately 2.2% copper-equivalent at current spot prices;

The Kallak iron ore deposit is located approximately 40 kilometres ("km") west of Jokkmokk in the County of Norrbotten, Northern Sweden, 80 km southwest of the major iron ore mining centre of Malmberget, and approximately 120 km to the southwest of LKAB's Kiruna iron ore mine.

The first Exploration Licence for Kallak was awarded by the Mining Inspectorate of Sweden in 2006. A Mineral Resource Estimate for Kallak North and South, based on 27,895 m of drilling conducted between 2010-2014, 131 drillholes, was finalised on 28 November 2014. Following the guidelines of the JORC Code, 2012 edition, an Indicated Resource of 118.5 Mt at 27.5 per cent iron content ("Fe") and Inferred Resource of 33.8 Mt at 26.2 per cent Fe was defined. In addition, there is an exploration target of 90-100 Mt at 22-30 per cent Fe.

Testwork on Kallak ore has shown that a 'super' high grade magnetite concentrate can be produced, yielding over 71 per cent iron content, with low levels of deleterious elements, including phosphorous and sulphur, lending itself to pelletisation and consumption in Direct Reduction Iron ("DRI") facilities in Europe and the Middle East, and attracting a potential price premium.

In April 2013, the Company applied for an Exploitation Concession for Kallak North (the "Concession") and in October 2015, the Mining Inspectorate recommended to the Swedish Government that the Concession be awarded. The Company is still waiting on the Swedish Government to take a decision.

About PACIFIC

Beowulf is a partner in the European Union ("EU") funded PACIFIC Project ("PACIFIC"), launched in June 2018. The project has received €3.2 million from the EU's Horizon 2020 research and innovation programme and has a 36-month programme of activities being coordinated by Université Grenoble Alpes.

The aim of PACIFIC is to develop a new low-cost and environmentally friendly tool for exploring for sub-surface mineral deposits. The PACIFIC consortium is conducting fundamental and applied research to develop two radically new and complementary mineral exploration techniques, both based on passive seismic imagery.

Kallak, including Kallak North, Kallak South and the Parkijaure licence, has been chosen as one of two PACIFIC test sites.

In September 2019, Phase 1 work was carried out at Kallak, which included testing the multi-array method, using an array of receivers at surface, over the known magnetite ore at Kallak South to provide background data, the seismic properties for the iron ore and to correlate findings with the geological model for Kallak.

In Autumn 2020, Phase 2 work will commence testing the multi-array method in parallel with drilling at Kallak South, with noise from drilling providing a passive seismic source. Testwork will determine if a 3D seismic model can be constructed, using the established seismic characteristics of the Kallak deposit, and whether the 3D model can be used to identify previously undiscovered magnetite minerali

"The SGU's latest study, published under the headline 'New light on the iron ore at Kallak', is a timely reminder of Kallak's importance to Sweden's iron ore resource inventory. Its publication preceded, by a matter of days, an earthquake at LKAB's underground mine at Kiruna, which thankfully spared lives, but disrupted production.



"The SGU, as a Government Office, acts as the central authority for geology and mineral issues in Sweden, one of its most important tasks is to meet society's demand for geological information.



"Despite Kallak being discovered by the SGU in the 1940s, when it comes to modern exploration, the Mining Inspectorate, a separate decision-making body within SGU, awarded the first Exploration Licence to the Company in 2006.



"This permitted the Company to invest, and, from 2010-2014, drill 27,895 metres, 131 drillholes. The Company applied for an Exploitation Concession in April 2013 and announced a Mineral Resource Estimate in November 2014. In October 2015, the Mining Inspectorate recommended to the Government that an Exploitation Concession be granted.



"Beowulf believes in the greater iron ore potential at Kallak South and Parkijaure and it is exciting to be looking forwards to an Autumn drill programme, the results of which we hope will optimize further drilling campaigns thereafter.



"I look forward to providing further updates."

Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, announces the award of a drilling contract for Kallak to Kati Oy.

The work programme, scheduled for Autumn 2020, will determine if a 3D seismic model can be constructed, using the established seismic characteristics of the Kallak deposit, and whether the 3D model can be used to identify additional iron ore mineralisation for the Exploration Target of 90-100 Mt at 22-30 per cent iron ("Fe") at Kallak.

The first Exploration Licence for Kallak was awarded by Bergsstaten (the "Mining Inspectorate") in 2006. A Mineral Resource Estimate ("MRE") for Kallak North and South was finalised on 28 November 2014. Following the guidelines of the JORC Code, 2012 edition, an Indicated Resource of 118.5 Mt at 27.5 per cent Fe and Inferred Resource of 33.8 Mt at 26.2 per cent Fe was defined.

Kallak was first discovered by the Geological Survey of Sweden ("SGU") in the 1940s and was designated an Area of National Interest ("ANI") by the SGU in 2013. The SGU's latest research on Kallak was published in May 2020, with the headline 'New light on the iron ore at Kallak'.

we are due an investigation into delays in the licence process in June - any embarrassment could be forestalled by some indication of progress this week. Any yes I know Baylan is utterly useless and impervious to criticism but....currently 0.64 sek over there on very large volume (for a change)

there's been a few moments in the past months where I've thought if cashing in and buying something else but the other shares picked haven't done that much so will sit here a while longer. But this is a casino share - if we get the nod this will be a massive bagger - but the share will be suspended before the decision so v few opportunities to get in after any news. I reckon 3.5p is the bottom here so any buys below 4p could be a bargain. The Swedish kids will probably ramp this up a bit more before tomorrow afternoon.

I'm expecting the same old same old on Wednesday but this farce has to end eventually - a screwed up economy might, just for once, be the precursor for a decision....

4.52p paid - this can move v quickly....

oops - wrong board - apologies

Kurt's response;
"It is not the first time Minister Baylan has been asked a question in the Swedish Parliament about Kallak, and no doubt his response, this Wednesday, is again eagerly awaited by Beowulf's Swedish and non-Swedish shareholders, the Company and the Swedish mining sector.



"Often overlooked when permitting is debated, is an acknowledgement of the risk capital needed, the timeline for investment, and the 'big picture' economic impact that a large-scale mining project, such as Kallak, can create.



"The first exploration licence for Kallak was granted in 2006 and to date over SEK 80 million has been invested. If a Concession were to be granted today, then it would take ~ 18 years from the first exploration licence to get to a producing mine. The investment in delivering a mining project will be hundreds of billions of SEK and the value chain impact will extend to the railway, port, downstream processing, and end-uses.



"As governments seek to reboot their economies post COVID-19, it would be logical to assume that a project such as Kallak, which has the potential to bring billions of SEK in investment and hundreds of jobs to northern Sweden, should finally gain approval.





"At the Nordic Mining Day in Toronto in early March, Minister Baylan saved his biggest welcome for investors. The Swedish Government lacks credibility in welcoming investors to Sweden, while it demonstrates zero transparency in how the Government handles permit applications or predictability in timelines for decision making. Mining investors cannot commit to exploration in Sweden under these conditions.



"At the same event, the 'rule of law' was stated as one of Sweden's attributes. Both Social Democrat and Green parties in Sweden have said that a decision on Kallak should be taken in accordance with the law. Beowulf has demonstrated with the Concluding Statement submitted to the Government last November, that, under judicial review, Beowulf's application has satisfied all requirements. We even have the recommendation from Bergsstaten (the "Mining Inspectorate") to the Government, in October 2015, over 4.5 years ago, that the Concession be awarded.



"Later this week, we will update the market on Minister Baylan's response to this latest Parliamentary Question."

yeah, we know what the reply will be but at least one MP is keeping it going;

to Minister of Industry Ibrahim Baylan (S)



The Kallak iron ore project has had to wait for decisions on permits for over six years. The matter has been ready to make a decision on the Minister of Commerce's table for three years without he and the government making any decision. Another project that has had to wait an unreasonably long time for decisions is the Laver mining area.

In the industry, the question is now asked why the government is not coming to terms with it. Despite repeated questions about when a decision may be made and great irritation from the industry, the government has not yet returned to the issue.

This management is under all criticism, and the government must realize the importance of the Swedish mining industry. The industry is responsible for large export revenues and employs many people in Sweden. When the government can not provide any information, investments cannot be completed either, jobs are not provided and the benefits for the environment are not realized. In addition, long processing times and uncertain processes make Sweden less relevant for foreign investment.

In view of the above, I would like to ask Minister of Business Ibrahim Baylan:



When does the minister and the government intend to make a decision on possible mining in Kallak and Laver?

currently 34 WTI and 36 Brent - solid increases all week...

https://oilprice.com/Energy/Crude-Oil/US-Shale-Cuts-Production-Deeper-And-Faster-Than-Expected.html

This reflects the significant increase in oil prices in past few weeks (doubled?) - now $32.4 a barrel (WTI) - not taking deeps into account (yet) but work should be underway on A5 and the acid treatment on the others is not far off. Lockdown must be ending soon over there (they were barely affected compared to Europe).

over 2.35m already bought - oil price still going up - world economy waking up....

excellent
Approval Received from National Bank of Ethiopia for Proposed Debt Finance

Formal Registration of Initial Historic US$49 Million Spend

KEFI Minerals PLC ("KEFI" or "the Company") is pleased to advise that the National Bank of Ethiopia, Ethiopia's central bank, has now approved the signed term sheets with the project finance banks who are expected to provide the long term development debt finance to the Company's Tulu Kapi Gold Project (the "Project" or "Tulu Kapi").

This reaffirms the Government's ongoing support of the Company and its project finance plan for Tulu Kapi Gold Mines Share Company ("TKGM"), as set out in the Company's announcement of 2 December 2019. As previously stated, the two proposed senior debt underwriters and co-lenders are leading African banks and this approval will now trigger their normal processes for credit approval and documentation, with a view to full financial closure later this year in accordance with recent Company guidance.

The sample SGU examined by the ore does not show high levels of toxic substances. The measurements obtained from chemical analysis and shown in Table 1, do not point to a "dirty" iron ore. Generally, ordinary oxidal ores are not "dirty", as they rarely contain substantial amounts of sulphide mineral. However, there are other types of iron ores where sulphide mineral also occur, and which we must then check what these may contain. Snarlika iron ore is broken at t. ex. ex. Kiruna fields by LKAB, and have or broken today t. ex. ex. in Chile, Mexico and Iran. SGU itself does not carry out any values of ore as we lack that type of certification, however, searches on the internet can show the potential that the companies working with the iron ore in Kallak have reported. Your Dick Claeson SGU

Update Highlights:

· Testwork on a composite sample for Karhunmäki, a new graphite prospect, produced a concentrate grade of 96.4 per cent Total Graphitic Carbon ("TGC"), with 51.3 per cent large/jumbo flakes (+180 micron). An Exploration Permit application has been submitted.

· After upgrading the Mineral Resource Estimate ("MRE") for Aitolampi in 2019, now with an Indicated and Inferred Mineral Resource of 26.7 million tonnes at 4.8 per cent TGC for 1,275,000 tonnes of contained graphite, Fennoscandian will report, in the coming weeks, on the results of spheroidization testwork and battery tests on Aitolampi graphite.

· Fennoscandian is supporting a study into the supply chain for LIBs in Finland and collaborating with Åbo Akademi in Turku, Finland.

· Fennoscandian has joined, as a consortium member, the Business Finland funded BATTrace project, which aims to improve traceability along the battery raw materials value chain using mineralogical/geochemical fingerprinting, to validate responsible and sustainable sourcing of cobalt, nickel, lithium and graphite. "While Finland remains on lockdown, the Fennoscandian team is busy assessing the results of spheroidization and battery tests on Aitolampi graphite, and contributing to studies on the supply chain for Lithium Ion Batteries in Finland and the traceability of graphite being used to manufacture batteries.



"COVID-19 has brought attention to supply chain risk across many industry sectors, no more so than feeding the growing demand for batteries for electric vehicle and energy storage. As Finland develops its battery manufacturing capability, the Country can address its 'security of supply' issues for the minerals and metals needed to be self-sufficient.



"With Karhunm ä ki, another seemingly attractive exploration prospect has been added to the exploration portfolio, and Fennoscandian is continuing with its strategy of developing a 'resource footprint' of natural flake graphite in Finland and becoming a future supplier of anode-material and value-added graphite products. I look forward to providing further updates."

I think Kallak is basically an old volcano