Business
Interim Results for six months ended 30 June 2014
Interim Results for six months ended 30 June 2014.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 2996Q Beowulf Mining PLC 29 August 2014 \n \n\n29 August 2014\n \nBeowulf Mining Plc\n(\"Beowulf\", the \"Group\" or the \"Company\")\n \nInterim Results for the six months ended 30 June 2014\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 2014.\nHighlights:\n \nOperational:\n· Approximately 3,156m of drilling across10 holes was completed on Kallak North and 5,051m across 12 holes on Kallak South, following the recommencement of the Group's extensive drill campaigns on 8 March and 12 March 2014 respectively. Initial assay results for both campaigns are currently expected to be received in Q3 2014. \n· Ballek drill programme completed in late April 2014 comprising 2,039m of drilling across 8 holes to test previously indicated copper targets at increased depths. Initial assay results are expected to be received from the ALS laboratory in Öjebyn in Q3 2014.\n· Encouraging initial results reported by the Geological Survey of Finland (\"GTK\") in relation to its pilot scale test work on material from the test mining sampling programme conducted last year on a defined area of the Kallak North deposit. Excellent grade and recovery levels from the magnetite beneficiation circuit tested, with further test work by GTK ongoing to assist with the design of the requisite future processing facilities for Kallak. \n· Group's licenced area in the Kallak region enhanced via the grant of a new exploration permit, Ågåsjiegge nr2, covering an area of 6,836 hectares adjacent to the existing Kallak project area.\n· Revised and expanded exploitation concession application for the Kallak North deposit submitted to the Swedish Mining Inspectorate in April 2014. \nFinancial:\n· Nil revenue (2013: Nil), loss before and after taxation of £1,317,313 (2013: £479,286) and basic loss per share of 0.47p (2013: 0.18p).\n· Approximately £569,000 in cash held at the period end.\n \n· &n...