Business
Subscription and further investment in Kosovo
Subscription and further investment in Kosovo.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 5751U Beowulf Mining PLC 01 April 2019 \n\n \n \nNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, GOLDSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS\n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (\"MAR\") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n1 April 2019\nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\nSubscription to raise £750,000 and further investment in Kosovan exploration\n \nBeowulf (AIM: BEM; Spotlight: BEO), the Nordic focused mineral exploration and development company, is pleased to announce a subscription for new ordinary shares of £0.01 each to raise £750,000 before expenses (the \"Subscription\"). \n \nThe funds will be used for general working capital purposes and to support the following activities:\n· Follow-on investment in Vardar Minerals Limited (\"Vardar\"), a private exploration company with interests in the Balkans, funding Vardar's 2019 Kosovan exploration programme, diamond drilling, geophysical surveys and other activities, at the Mitrovica project, targeting lead-zinc-silver, copper and gold mineralisation, and at the Viti project, targeting copper-gold, lithium-boron mineralisation, and exercising the Company's option to increase Beowulf's stake in Vardar from 14.1% to 31.3%.\n· Drilling for potential higher-grade mineralisation at the Aitolampi graphite project, and exploration activities across the portfolio, including mapping, geophysics, sampling, assaying and metallurgical testwork, as the Company seeks to develop a 'resource footprint' to satisfy Finland's natural flake graphite requirements for battery manufacturing.\n· Drilling at Parkijaure, to the south of the Kallak iron ore project (\"Kallak\"), targeting additional iron ore resource as indicated by geophysical data, aimed ...