You are in: World Edition Home > Mining Companies > Company Details > Beowulf Mining Plc
Strathmore Minerals Corp
Metallum Resources
Pelangio Mines
Goldplat Plc

Subscribing Companies

Unique access to mining investors. Global distribution of company news.
Find out more »

71st Minesite Forum

14th Sept 2010

Find out more »

RSSRSS Updates

Get the latest news as it happens.
Sign up here »

Weekly Newsletter

Informed comment & independent new.
Sign up here »

Bulletin Board

Join other informed investors & debate mining companies.
Visit the boards »

Webcast

Listen to Minesite Forum Webcasts with synchronised PowerPoint slides.
Find out more »

STOP PRESS:

Company Information for Beowulf Mining Plc

Company stock charts - 6 Month chart

Exchange AIM; BEM


View full financial data

Company Statement

Beowulf Mining Plc (Beowulf) is a diversified mineral exploration and development company with base and precious metal deposits in resource rich Northern Sweden including iron, molybdenum, gold, copper and uranium. Beowulf is listed on the London AIM market under the ticker BEM and on the Swedish AktieTorget market under the ticker BEO.

Although we are just entering the second quarter of 2010, the company continues to be  very busy and by the end of the first quarter had already:

Announced the updating of a conceptual study on the Ruoutevare iron deposit showing potential cash flows of US$3bn over a 15 year mine life.

Commissioned a new scoping study on the Kallak iron deposit which has shown it has the potential to produce cash flows of US$2.9bn over a 15 year mine life.

Announced that drilling has commenced on the Ballek, copper/gold/uranium which is in joint venture with ASX-listed Energy Ventures.

Raised £1m and signed a contract with a drilling team to commence work on the Kallak iron deposit in Q2 and on Ruioutevare in Q4 2010.


Current Operations

Ruoutevare Iron Titanium Project
140 million tonnes inferred JORC Mineral Resource at 39.1% iron, 5.7% titanium and 0.2% vanadium. Results based on drilling by the Swedish Geological Surrey. The Swedish Raw Materials Group has concluded that the deposit could be developed on the basis of a 10 million tons per year operation and at its present stage, is one of the largest known iron deposits not yet in production in Scandinavia. Raw Material Group’s economic model shows a payback period on total investment of as low as 3.1 years.

Kallak Iron Ore Claim
A magnetite project, based on exploration by Swedish Geological Survey consisting of three diamond core drill holes and geophysical surveys, shows that Kallak contains a significant resource of iron ore, close to the surface and amenable to open-pit mining. There is similar economic potential to that of Ruoutevare with a payback period of 3.6 years at the highest forecast range for market prices of iron ore.

Ballek Copper Gold Project
The Company has six licences that cover 11 copper prospects, including the Lulepotten copper-gold deposit which was drilled by the Geological Survey of Sweden with between 1960 and 1971 and found to contain 5.1 million tonnes of 0.73% copper and 0.25 grams per tonne of gold. The prospects are associated with a large gravity anomaly.

Beowulf has entered into a Joint Venture Farm in Agreement with Energy Ventures Ltd (EVE)on this project.

Grundtrask Gold Project
Grundtrask is located near the town of Mala in the Skelleftea mining district and comprises three licences totalling 43km square. A gold-bearing structure over a strike length of 750m and up to 27m wide has been established through diamond drilling to date and it is open at both ends and at depth. Beowulf is seeking to develop this project.


Geographical Spread

North Sweden. An area where there is no mineral royalty and a low corporation tax. Large under explored mineral potential. Excellent infrastructure. Political and economic stability. Long history of mining.


Board of Directors and Key Management

Clive Sinclair-Poulton Executive Chairman
Jan-Ola Larsson Technical Director
Anthony Scutt ACIS Non-Executive Director
Edward Taylor Non-Executive Director and Company Secretary

Company Address

Richmond House
Broad Street
Ely, United Kingdom CB7 4AH

Telephone:+ 44 (0)1366 500 722
Email:edd.taylor[at]btopenworld.com
Website:http://www.beowulfmining.com

Additional Address/Key Contact

Swedish Office
Jan-Ola Larsson
Beowulf Mining plc
Silvergransvagen 32
SE 141 45 Huddinger
Sweden
Tel: +46 8 746 8390
Fax: +46 8 449 8559

Capital

Number of Shares in Issue 105,898,247

Annual General Meeting

April

Year End

31st December

Nominated Brokers

Alexander David Securities
10 Finsbury Square
London EC2A 1AD

Nominated Advisors

Strand Partners
26 Mount Row
London W1K 3SQ

Major Shareholders

Mrs Carole Christine Rowan 6,089,485 shares (9.17%)
Starvest plc 2,000,000 shares (3.01%)
Sunvest Corporation Limited 10,000,000 shares (15.06%)
Mrs Judith Mary Young 2,294,742 shares (3.46%)
Dr Robert Douglas Young 4,294,743 shares (6.47%)

Related News

09/03/10 - Beowulf Gets Down To Some Serious Work On The Economics Of Its Swedish Iron Ore Projects
26/11/09 - Beowulf Mining Enjoys Life At The End Of The World
20/07/09 - Beowulf Mining Is Cultivating Relationships In China In Anticipation Of A Renewal Of The Scramble For Resources
07/05/09 - Standing On The Shoulders Of Giants: Beowulf Mining Moves Forward On Ruoutevare

Most Recent Statement

12/07/10 - Kallak Drilling Update
28/06/10 - Annual Financial Report
13/05/10 - AGM Notice Accounts Posted
28/04/10 - Drilling to commence at Kallak
13/04/10 - Ballek JV Partner earns 50% of project
09/04/10 - Ruoutevare and Kallak Iron Ore Conceptual Study

To top