Business
Letter to Business, Industry & Innovation Minister
Letter to Business, Industry & Innovation Minister.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \n \n RNS Number : 7391O\n Beowulf Mining PLC\n 03 June 2020\n \n \n \n \n \n \n \n \n \n \n 03 June 2020\n \n \n Beowulf Mining plc\n \n \n (\"Beowulf\" or the \"Company\")\n \n \n Letter to the Minister for Business, Industry and Innovation, The Government of Sweden\n \n \n Beowulf (AIM: BEM; \n Spotlight\n : BEO), the mineral exploration and development company, announces that Kurt Budge CEO has written to Mr\n Ibrahim Baylan, Minister for Business, Industry and Innovation, The Government of Sweden.\n \n \n The letter, sent yesterday, is below:\n \n \n London 2020.06.02\n \n \n Statsrådet Ibrahim Baylan\n \n \n Näringsdepartementet\n \n \n \n \n \n Minister,\n \n \n \n There is considerable stock market anticipation as to your response this Wednesday to the Parliamentary Question put to you by Mr Lars Hj\n \n \n ä\n \n \n lmered.\n \n \n \n I politely remind you that Beowulf Mining is a public company and any statements made public when stock markets are open can generate unwarranted volatility in trading and pricing of the Company's shares. \n \n \n \n In late January 2017, after a public statement by L\n \n \n ä\n \n \n nsstyrelsen Norrbotten, with no forewarning to Beowulf, the Company's shares were suspended from trading for 24-hours, until such time that a full explanation of the statement could be disclosed to markets. However, the damage had already been done, with the Company's share price falling 40 per cent in Stockholm. \n \n \n \n Since you, and I, attended the Mining Nordic Day in Toronto in early March, the Government has understandably prioritised its response to the COVID-19 pandemic, the short-medium term need for Government support to protect businesses, safeguard jobs, livelihoods and the wellbeing of Swedish society, as economic activity is constrained. \n \n \n In Toronto, you saved your biggest welcome for investors. I reminded you that Beowulf has been invested in Sweden and working on Kallak for 14 years. You also said that I was welcome to do business in Sweden. The fact of the matter is, Beowulf is unable to do business in Sweden, because we cannot get a decision on Kallak from the Government.\n \n \n \n In May 2019, the State Secretary said to G\n \n \n ö\n \n \n ran F\n \n \n ä\n \n \n rm, Beowulf's Chairman, and me, in a face t...