Kallak North Exploitation Concession Update

RNS Number : 7178C

Beowulf Mining PLC

30 June 2016

 

30 June 2016

Beowulf Mining Plc

("Beowulf" or the "Company")

Kallak North Exploitation Concession Update

Beowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, announces that the Company's application for an Exploitation Concession for Kallak North has been listed on The Government of Sweden's meeting agenda for discussion on 30 June 2016. 

As is practice in Sweden, the Company will be notified of any outcome when it is made public.  The Company will provide shareholders with an assessment of any outcome as soon as it is practicable thereafter.

Kurt Budge, Chief Executive Officer, commented:

"We are pleased that the Government has our application tabled for discussion and look forward to hearing the outcome.

"We believe it is in the best interests of our stakeholders in Sweden, and our Swedish and non-Swedish shareholders, that our application is further reviewed by the Mining Inspectorate, so that any future award of the Exploitation Concession is consistent with the judgement of the Supreme Administrative Court in the case of the Norra Kӓrr project.  

"The time taken now to allow any additional review of our application enables Beowulf to further demonstrate its responsible approach to the development of Kallak, and our ambition to develop a modern and sustainable mining operation in partnership with the community."

Enquiries:

Beowulf Mining plc
Kurt Budge, Chief Executive Officer	Tel: [phone]
Cantor Fitzgerald Europe (Nominated Advisor & Broker)
Stewart Dickson / Phil Davies / Carrie Drummond	Tel: [phone]
Blytheweigh
Tim Blythe / Megan Ray	Tel: [phone]

 

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