Business
Retraction Statement - Kallak
Retraction Statement - Kallak.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n\n25 May 2023\n \nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\nRetraction Statement - Kallak \n \nBeowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, through its subsidiary Jokkmokk Iron Mines AB operates the Kallak Project, for which Jokkmokk Iron holds the exploitation licence. The Mineral Resources of the deposits have been classified according to the PERC Standards 2017, by Howard Baker (FAusIMM(CP)) an independent Competent Person. As was reported by the Company via RNS on 25 May 2021, the total Measured and Indicated resource, as prepared by Baker Geological Services (\"BGS\"), is 132 million tonnes (\"Mt\") grading 28.3 per cent iron (\"Fe\"), with an Inferred Mineral Resource of 39 Mt grading 27.1 per cent Fe.\n \nHowever, contrary to the PERC Standards and erroneously, the Company aggregated a number of areas of mineralisation and potential mineralisation which should be reported separately informing that the Kallak Project area is \"estimated to contain 389 million tonnes of iron mineralisation\", in an RNS Reach press release (dated 22 February 2023), and also at a presentation delivered at the Mining Journal Select conference (held in London on 28 March 2023). As this figure is not compliant with the PERC Standard it is erroneously reported and should be disregarded. The Company wishes to emphasise that no new studies have been carried out and that this explanatory communication should be seen as a clarification according to industry standards.\n \n \n\n\nEnquires\n\n\n\n\n \nBeowulf Mining plc\n\n\n\n\n\n\n\nDaniel Lagerqvist\n\n\nTel: +46 (079) 060 56 62\n\n\n\n\nSP Angel\n(Nominated Adviser & Broker)\n\n\n\n\n\n\n\nEwan Leggat / Stuart Gledhill / Adam Cowl\n\n\nTel: +44 (0) 20 3470 0470\n\n\n\n\nBlytheRay\n\n\n\n\n\n\n\nTim Blythe / Megan Ray \n\n\nTel: +44 (0) 20 7138 3204\n\n\n\n\n \n \nCautionary Statement\nStatements and assumptions made in this document with respect to the Company's current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Beowulf. Forward-looking statements include, but are not limited to, those using words such as \"may\", \"might\", \"seeks\", \"expects\", \...