Beowulf’s strategy is to build a modern and sustainable Nordic based mining company, which creates shareholder value through project development, delivering production and generating cash flow, while remaining opportunistic for M&A; preserving the Company’s low sovereign risk profile and rewarding its investors in London and Stockholm.

Should the Company be awarded and Exploitation Concession for Kallak North, the Company would initiate a Scoping study to pull together all the technical work completed to date.  The study would provide both the roadmap to Pre-feasibility and an updated set of economics.

As one option for advancing Kallak, the Company continues to consider the introduction of a strategic partner and associated investment; a partner who understands the value of Kallak North as a high quality producing asset within four to five years, supplying ‘super’ high grade magnetite concentrate with low levels of deleterious elements, lending itself to pelletisation and consumption in Direct Reduction Iron (“DRI”) facilities in Europe and the Middle East.

In addition to Kallak North, Beowulf has rebuilt and diversified its exploration interests.  In 2015, the Company rationalised its existing portfolio, and in 2016 the Company has now added to it with the acquisition of Fennoscandian, a graphite exploration company with assets in Finland, and with the Åtvidaberg and Sala exploration licences in Sweden. 

Beowulf is developing a high-quality portfolio of assets in well-established mining regions.

The Board of Directors continues to look beyond the Company for value creation opportunities.