Business
Unaudited Results for Period Ended 31 March 2025
Unaudited Results for Period Ended 31 March 2025.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n\n\n \n29 May 2025\nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\nUnaudited Financial Results for the Period Ended 31 March 2025\nBeowulf Mining (AIM: BEM; Spotlight: BEO), the European mineral exploration and development company, announces its unaudited financial results for the three months ended 31 March 2025 (the \"Period\").\n \nActivities in the Period \n \nCorporate\n· During the Period, the Company initiated a capital raise to fund the continued development of the Company's projects, in particular the Kallak Iron Ore Project (\"Kallak\") in Sweden and the Graphite Anode Materials Plant (\"GAMP\") in Finland.\nSweden\n· During the Period, through its wholly owned Swedish subsidiary Jokkmokk Iron Mines AB (\"Jokkmokk Iron\"), the Company continued to progress technical and environmental workstreams in preparation for both the Pre-Feasibility Study (\"PFS\") and Environmental Impact Assessment (\"EIA\") and subsequent submission of the environmental permit application for Kallak.\nFinland\n· On 10 March, Beowulf, through its wholly owned Finnish subsidiary Grafintec Oy (\"Grafintec\"), announced the results of the PFS for the GAMP.\n· The PFS focused on an initial Phase 1 development producing 25,000 tonnes per year of Coated Spherical Purified Graphite (\"CSPG\") with the potential to expand further to 75,000 tonnes per year.\n· The study demonstrated extremely positive economics for Phase 1 with a post-tax Net Present Value using a discount rate of 8% (\"NPV8\") of €924 million and post-tax Internal Rate of Return (\"IRR\") of 37% over 25 years with an initial capital expenditure of €225 million and pay-back period of 3 years from initial production.\n· Phase 2 offers further economic upside with a post-tax NPV8 of €2.2 billion and post-tax IRR of 38% over 25 years.\n· Further potential upside is identified from the vertical integration of Grafintec's graphite projects and access to government and EU support through grant funding schemes and tax incentives aimed at large industrial investments supporting the transition to a net-zero economy.\n \nKosovo\n \n· ...