Business
Final Results
Final Results.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n RNS Number : 0507T Beowulf Mining PLC 29 May 2009 \n \n29 May 2009\n\nBeowulf Mining Plc\n('Beowulf' or the 'Company')\n\nFinal Results for Year Ended 31 December 2008\n\nBeowulf (AIM: BEM, Aktietorget: BEO), an established mineral exploration company which runs several exploration projects in Northern Sweden, announces its audited final results for the year ended 31 December 2008.\n\nHighlights\n\nRuoutevare deposit:\n\n\n\nMaiden 140 million tonnes magnetite inferred JORC resource.\n\n\nBeowulf retains 100% of the project enhanced by JORC classification for no cost.\n\n\n\nLulepotten deposit/Ballek JV:\n\n\n\nJORC-compliant inferred resource of 5.4 million tonnes at 0.8% copper and 0.3 grammes per tonne of gold.\n\n\nOption and earn-in agreement with Agricola Resources PLC extended.\n\n\n\nCorporate:\n\n\n\nOver £350k in cash at year end with very low burn rate.\n\n\nClive Sinclair-Poulton appointed Executive Chairman.\n\n\nBeowulf shares commenced trading on the Swedish AktieTorget exchange.\n\n\nBeowulf now concentrating on commercialisation of its projects as well as exploration and development.\n\n\n\nEvents subsequent to the results period:\n\n\n\nDr Robert Young steps down from the board and assumes a consultancy role.\n\n\nStrand Partners Limited appointed as Nominated Adviser.\n\n\nMetallurgy study confirms full extraction of iron, titanium and vanadium is possible at the Ruoutevare deposit. The study also shows final high grade product containing 97% iron and less than 0.5% titanium.\n\n\n\nClive Sinclair-Poulton, Executive Chairman of the Company commented: \n'We have assets, both in the ground and in the bank, to push forward the value of the Company in a market where iron ore and copper are in demand'.\n\nFor further information, please contact: \n\n\n\n\n\nBeowulf Mining Plc\n\n\n\n\n\n\n\nClive Sinclair-Poulton, Chairman\n\n\nTel: +353 (0)85 739 2674\n\n\n\n\n\n\n\n\n\n\n\n\nStrand Partners Limited\n\n\n\n\n\n\n\nSimon Raggett / Matthew Chandler\n\n\nTel: +44 (0)20 7409 3494\n\n\n\n\n\n\n\n\n\n\n\n\nAlexander David Securities Limited\n\n\n\n\n\n\n\nDavid Scott / Nick Bealer\n\n\nTel: +44 (0)20 7448 9820\n\n\n\n\n\n\n\n\n\n\n\n\nLothbury Fin...