Business
Unaudited Results for year ended 31 December 2024
Unaudited Results for year ended 31 December 2024.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n\n \n \n\n \n \n28 February 2025\nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\nUnaudited Preliminary Financial Results for the year ended 31 December 2024\nBeowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, announces its unaudited preliminary financial results for the year ended 31 December 2024 (the \"Period\") and provides an update on its current financial position.\nActivities in the Period\n \nSweden\n \n· Significant progress was made by Jokkmokk Iron Mines AB (\"Jokkmokk Iron\") at the Kallak Iron Ore Project (\"Kallak\") during the Period, in preparation for the completion of the Pre-Feasibility Study (\"PFS\") and Environmental Permit application.\n· Dmytro Siergieiev was appointed in May as Project Director to lead the development of Kallak.\n· In June, a positive verdict was received from the Supreme Administrative Court upholding the original award of the Kallak Exploitation Concession.\n· Metallurgical test-work confirmed the ability to produce an exceptionally high-grade, low impurity iron ore concentrate grading over 70% iron content (\"Fe\") and containing less than 2.0% silica and <0.23% alumina. The product is anticipated to be highly sought-after as a feedstock to support the decarbonisation of the steel industry. This test-work has also enabled the development of the processing flowsheet which critically only involves physical separation. \n· Additional technical workstreams including site infrastructure, logistics and transportation, and water and waste management were also progressed during the Period with a number being substantially complete.\n· The Consultation Process for Kallak, a critical part of the Environmental Permitting process, was initiated in September with the publication of a Consultation Document which set out the main parameters and potential impacts of the project.\n \nFinland\n \n· During the Period, the strategy for the development of the Graphite Anode Materials Plant (\"GAMP\") was updated to fast-track the development of the full process thereby capturing more of the anode material prod...