Beowulf Mining Plc (LON:BEM) CEO Kurt Budge talks to DirectorsTalk about a £1.25m fundraising how the proceeds will be used and steps taken for the Kallak North Exploitation Concession.
Beowulf Mining Plc’s strategy is to build a sustainable Scandinavian based mining company, which creates shareholder value through development into production and cash flow, while remaining opportunistic for M&A; preserving the Company’s low sovereign risk profile and rewarding its investors in London and Stockholm.
The development of Kallak North is at a point now where the Company is considering 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 5 years, supplying high grade concentrate with very low levels of phosphorous and sulphur, lending itself to pelletization and consumption in Direct Reduction Iron (“DRI”) facilities in Europe and the Middle East.
In addition to Kallak North, Beowulf is focussing its efforts on the potential of its wider exploration portfolio. In 2015, the Company rationalised its existing portfolio, and has now added to it with the Fennoscandian acqusition. With Kallak’s magnetite in Sweden and Fennoscandian’s graphite in Finland, Beowulf is developing a high quality portfolio of assets in a well-established mining region.