Business
Interim Results
Interim Results.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 5687M Beowulf Mining PLC 28 August 2013 \n \n\n28 August 2013\nBeowulf Mining Plc\n(\"Beowulf\" or the \"Company\")\n \nInterim Results for the six months ended 30 June 2013\n \nBeowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration company focused on developing the group's Kallak North and Kallak South iron ore deposits in northern Sweden, announces its unaudited interim results for the six months ended 30 June 2013.\n \nHighlights:\nOperational:\n· Encouraging assay results received for the first six holes on the ongoing Kallak South drill programme. Initial drill phase completed in early June comprising 16 holes for a total of approximately 3,994m. A further 1,500m of drilling planned prior to the scheduled expiry of the current work plan at the end of October 2013. \n· Approximately 1,600m drilled to date on the ongoing Kallak North campaign covering the first 8 holes. Drill programme of up to 11,000m is principally seeking to further define the extent of the deposit and upgrade the existing JORC Code compliant resource estimate. \n· Fieldwork for test mining sampling programme on a defined area of Kallak North now completed ahead of schedule. Approximately 400 tonnes of mineralised material to be transported to Finland for analysis with results currently expected to be received in Q1 2014. \n· Application submitted in late April 2013 to the Swedish Mining Inspectorate for an exploitation concession for the Kallak North deposit, with a decision currently anticipated to be received by early 2014.\n \nCorporate:\n· Nil revenue (2012: Nil), loss before and after taxation of £479,286 (2012: £386,955) and basic loss per share of 0.23p (2012: 0.18p).\n· Approximately £2.17m in cash held at the period end.\n· £4.125m (gross) subscription and equity swaps transaction completed post period end. \nClive Sinclair-Poulton, Executive Chairman of Beowulf, commented:\n\"We have continued to make good progress with our 2013 drilling campaigns on the Kallak iron ore project, with encouraging initial assay results received for Kallak South and approximately 1,600m of drilling completed to date on Kallak North. \n \n\"I am delighted that the fieldwork for our...