The Company owns approximately 59.5% per cent of Vardar Minerals (“Vardar”).  Vardar is a UK registered exploration company with a focus on the mineral endowed Balkan region.  Vardar is focused on exploration in the Tethyan Belt, a major orogenic metallogenic province for gold and base metals.  Vardar is delivering exciting results for its Mitrovica licence which has several exploration targets, including lead, zinc, copper, and gold. It also has the Viti licence which is showing potential for copper-gold porphyry mineralisation. With Beowulf’s support, Vardar is focused on making a discovery.