RSS UpdatesCompany Information for Beowulf Mining Plc
Company stock charts - 6 Month chart
 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 AddressRichmond House
|
Additional Address/Key ContactSwedish Office |
CapitalNumber of Shares in Issue 105,898,247 |
Annual General MeetingApril | Year End31st December |
Nominated BrokersAlexander David Securities | Nominated AdvisorsStrand Partners |
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 Projects26/11/09 - 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 Update28/06/10 - 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