Duyuru • Jun 07
Beowulf Mining plc announced that it expects to receive £3.694836 million in funding from Bacchus Capital Advisers Limited Beowulf Mining plc entered into non-binding heads of terms with Bacchus Capital & Affiliates to issue 123,161,201 new ordinary share at an issue price of £0.03 for gross proceeds of £3,694,836.03 on June 05, 2026. The transaction includes investor participation of Bacchus Capital Advisers Limited and affiliated entities. The transaction is subject to the approval of shareholders of the company and regulatory approval. New Risk • Jun 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£2.8m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 5.1% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£5.82m market cap, or US$7.77m). Duyuru • Apr 30
Beowulf Mining plc to Report Q1, 2026 Results on May 29, 2026 Beowulf Mining plc announced that they will report Q1, 2026 results on May 29, 2026 New Risk • Feb 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£3.6m free cash flow). Earnings have declined by 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£5.17m market cap, or US$7.07m). Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). Duyuru • Jan 31
Beowulf Mining plc to Report Fiscal Year 2025 Results on Feb 27, 2026 Beowulf Mining plc announced that they will report fiscal year 2025 results on Feb 27, 2026 Duyuru • Sep 22
Beowulf and Jokkmokk Iron Mines AB Provides an Update on the Status of the Kallak Iron Ore Project Beowulf and its wholly owned Swedish subsidiary Jokkmokk Iron Mines AB ("Jokkmokk Iron") provided an update on the status of the Kallak Iron Ore Project ("Kallak" or "the Project"). The preparation and submission of a robust Environmental Permit application remains the Company's top priority and to this end a number of workstreams have been advanced: Community and local stakeholder engagement remains a key focus to foster trust and transparency, inform and educate and also provide a valuable feedback loop to ensure that the Project's development aligns with stakeholder interests and to minimise and mitigate any negative impacts; Nature value inventory work was completed during the summer along the transport corridor between the mine and the railhead; Reindeer and wildlife management plan initiated along the Inlandsbanan; Sustainability framework developed to steer project development; Numerous technical workstreams have advanced, which are essential to the completion of the Pre-Feasibility Study ("PFS"). The Company continues to collaborate with key partners to explore effective solutions; Mining: Strategy being developed to produce and deploy nitrogen-free explosives, further reducing emissions; Autonomous, fully electric mining trucks being evaluated; Processing: Potential enhancements under review that could enable more cost- and energy-efficient crushing and grinding; Further enhancements planned for the final processing stage, where the concentrate is upgraded; Logistics and Transportation: Pipeline selected as the preferred transport solution between the mine and the nearest railway; Further steps being taken to optimise the rail configuration for the Kallak Project; Studies being initiated to design and evaluate an efficient magnetite concentrate handling facility in the port of Narvik, with a view to reducing permitting risks and minimising upfront capital costs. The Kallak deposit is one of Europe's largest untapped sources of iron ore, with the potential to produce a market-leading, high-grade, low-impurity magnetite concentrate that can support regional and global green steel production. New Risk • Aug 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£3.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£3.6m free cash flow). Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£6.26m market cap, or US$8.47m). New Risk • May 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£6.56m market cap, or US$8.90m). Duyuru • May 23
Beowulf Mining plc, Annual General Meeting, Jun 24, 2025 Beowulf Mining plc, Annual General Meeting, Jun 24, 2025. Location: the offices of fieldfisher llp, riverbank house, 2 swan lane, ec4r 3tt, london United Kingdom Duyuru • Mar 10
Beowulf and Grafintec Oy Announce the Successful Conclusion, and Robust Project Economics of the Pre-Feasibility Study from the Graphite Anode Materials Plant Beowulf and its wholly owned Finnish subsidiary Grafintec Oy announced the successful conclusion, and robust economics of the Pre-Feasibility Study from the Graphite Anode Materials Plant. The Company also provides a further update on its current financing position. Positive economics from initial Phase 1 development: Post-tax Net Present Value using a discount rate of 8% ("NPV 8") of EUR924 million and post-tax Internal Rate of Return ("IRR") of 37% over 25 years; Pre-tax NPV 8 of EUR1.2 billion and pre-tax IRR of 42% over 25 years; Initial capital cost of EUR225 million with a pay-back period of 3 years from initial production; Based on production of 25,000 tonnes per year of Coated Spherical Purified Graphite ("CSPG") Generates EUR120 million of Free Cash Flow ("FCF") per year and EUR150 million of Earnings before Interest, Tax, Depreciation and Amortisation ("EBITDA") per year when in full production; Future expansion in Phase 2 offers further upside: Post-tax NPV 8 of USD 2.2 billion and post-tax IRR of 38% over 25 years; Pre -tax NPV 8 of EUR2.8 billion and pre-tax IRV of 42% over 25 years. Based on expansion to 75,000 tonnes per year of CSPG with construction beginning in third year of Phase 1 production; Generates EUR361 million of FCF per year and EUR451 million of EBITDA per year when in full production. Further potential upside from: Vertical integration of Grafintec's graphite projects; Government and EU support through grant funding schemes and tax incentives aimed at large industrial investments supporting the transition to a net-zero economy. The study, which was led by consultants Anzaplan, has demonstrated the technical and financial viability of the GAMP project and supports Grafintec's ambition to be a critical player in the European battery materials supply chain. The test-work undertaken for the PFS was completed using a six-tonne sample sourced from preferred supplier, a miner with a multi-decade track record of producing high grade concentrate. Longer term, the Company will assess the viability of developing its own graphite mining projects and creating a European vertically integrated graphite business. The PFS anticipates an initial Phase 1 development to produce 25,000 tons per year of CSPG With the potential to increase output in Phase 2 to 75,000 tons per year. The process produces two SG products, a medium SG product of 18 microns ("SG-18") with a yield of 47% and a fine SG product of 8 microns ("SG-8") with a yield of 13%. The remaining material is high grade fine graphite which may have a number of industrial applications. Purification: upgrading SG from approximately 95% to greater than 99.95% graphitic carbon ("Cg") content through hydrometallurgical process to produce SPG-18 and SPG-8. This process involves caustic (sodium hydroxide) baking with a series of caustic and sulphuric acid leaching processes. The GAMP economic analysis was prepared by Anzaplan based on the test-work results and supported by quotes from third-party suppliers. New Risk • Feb 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£3.7m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£6.80m market cap, or US$8.56m). New Risk • Dec 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£3.7m free cash flow). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£5.83m market cap, or US$7.41m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). New Risk • Dec 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£3.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£3.7m free cash flow). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£7.38m market cap, or US$9.41m). New Risk • Oct 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£6.99m (US$9.12m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 32% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£6.99m market cap, or US$9.12m). Minor Risks Less than 1 year of cash runway based on current free cash flow (-UK£3.7m). Share price has been volatile over the past 3 months (7.0% average weekly change). Duyuru • Oct 02
Beowulf Mining plc Announces Initiation of the Consultation Process for the Kallak Iron Ore Project Beowulf announced that the Consultation Process for the Kallak or Gállok Iron Ore project ("Kallak" or "the Project") has commenced. Consultation is part of the Environmental Permitting process according to the Environmental Code (1998:808) and the Environmental Assessment Ordinance (2017:966) and aims to create a better basis for decisions by obtaining knowledge, ensuring quality and scope and reducing uncertainties for the future project. Furthermore, the consultation also aims to delimit the Environmental Impact Assessment and enable a transparent dialogue with authorities and the general public. The consultation is important for the Company to be able to obtain views from those who may be affected by the planned development of Kallak. These views will be taken into account in further investigations and planning, and all comments will be compiled in a statement that will be submitted with the Environmental Permit application. The consultation report will also show how the issues that have arisen during the consultation have been handled. Once the Environmental Permit application has been submitted to the responsible review authority, in this case the Land and Environment Court, the application is usually sent to various authorities who are allowed to comment on whether the application is complete or if there is a need for supplementary information. If the Court considers that the application is not complete, the Company will be given the opportunity to provide the additional required information. When the application is deemed complete, it will be announced. The purpose of the announcement is to give interested parties the opportunity to submit their views. The Company will be given the opportunity to respond to the comments that have been received, after which a main hearing is normally held. The main hearing is an open meeting usually held in a location close to the intended activity. Sometime after the main hearing, the Court will issue a judgment in the case. A judgment from the Land and Environment Court can be appealed by authorities and interested parties. Judgments from the Land and Environment Court are appealed to the Land and Environment Court of Appeal. In order for the Land and Environment Court of Appeal to take up the case, the Court must, following receipt of an appeal, grant a leave to appeal. If the Land and Environment Court of Appeal does not grant leave to appeal, the judgment of the Land and Environment Court applies, in other words, the Court's decision becomes final and the Environmental Permit becomes valid. The consultation process will remain open until mid-November. The Company will then complete any additional investigation work and plans to submit the Environmental Permit application in the Spring of 2025. The Court is then expected to take approximately two years to review the application. Duyuru • Sep 05
Beowulf and Jokkmokk Iron Mines AB Provide an Update on the Metallurgical Test-Work Programme Completed for the Kallak or Gallok Iron Ore Project Beowulf and Jokkmokk Iron Mines AB provided an update on the metallurgical test-work programme completed for the Kallak or Gallok Iron Ore project. The 2024 metallurgical test-work programme comprised mineralogical analysis using TESCAN TIMA to assess particle-by-particle measurement of mineralogy, grind size, liberation, and separation. This mineralogical study supplemented prior QUEMSCAN studies, which do not distinguish iron oxide minerals, and was supported by microscopic investigations. The TIMA liberation data confirmed previous measurements suggesting magnetite and maghemite may be liberated at P(80) 40 microns. Comminution test-work on representative samples indicated that the crushing characteristics of the ore are relatively soft whilst it is generally relatively hard from an abrasion/attrition perspective. This suggests that Fully Autogenous Grinding (FAG) or Semi-Autogenous Grinding (SAG) will be appropriate with the data being used to model likely equipment sizing. Samples from the comminution testing were then combined to form a composite sample with proportions designed to be representative of the Kallak orebody, particularly in the early years of mine life. Wet Low-Intensity Magnetic Separation ("WLIMS") of this composite sample produce a product with a grade of 68.82% Fe, 3.41 % SiO2 and 0.22 % Al2O3, whilst results from the maghemite sample generated a product grading 68.61% Fe, 3.63 % SiO2 and 0.23 % Al2O3. Both samples could then be further upgraded using the LJC technology to over 70% Fe with close to 2% SiO2, a product deemed to be a suitable DRI feedstock. Based on the results of the metallurgical test-work, a conventional magnetite flowsheet is envisaged with a crushing and grinding circuit and series of WLIMS units working in sequence to recover the magnetic magnetite and maghemite fractions. A single concentrate would be produced with a grade of 68.8% Fe which in turn could be further upgraded with the non-chemical LJC Technology to over 70% Fe. Based on the mining rate of 9 million tonnes per year ("Mtpa") of ore as envisaged in the Scoping Study, the preliminary metallurgical modelling suggests that approximately 2.7 Mtpa of 68.8% Fe containing less than 3.7% SiO2 and less than 0.23% Al2O3 would be produced. Further upgrading is anticipated to still produce approximately 2.7 Mtpa of the >70% Fe concentrate containing approximately 2% SiO2. The LJC Technology has the potential to upgrade this concentrate, although recoveries marginally decline, and there are capital and operating costs associated with its implementation. A trade-off study is therefore being conducted to determine whether the additional price premium for the higher grade material justifies the inclusion of the LJC Technology. This study will be completed within the coming weeks and determine the base case process flowsheet for the forthcoming PFS. Recoveries from the processing of the hematite ore have historically been low and economically marginal. Further test-work will be required to determine whether this portion of the orebody should be stockpiled for processing at the end of the mine life. New Risk • Sep 01
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -UK£3.7m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 32% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Less than 1 year of cash runway based on current free cash flow (-UK£3.7m). Market cap is less than US$100m (UK£8.74m market cap, or US$11.5m). Duyuru • Jul 26
Beowulf Mining plc to Report Q2, 2024 Results on Aug 21, 2024 Beowulf Mining plc announced that they will report Q2, 2024 results on Aug 21, 2024 Duyuru • Jul 16
Beowulf Mining plc and Jokkmokk Iron Mines AB Provides an Update on the Gállok or Kallak Iron Ore Project Beowulf and its wholly owned Swedish subsidiary Jokkmokk Iron Mines AB provided an update on the Gallok or Kallak Iron Ore project. Highlights Environmental permitting: Formal consultation process for the Environmental Impact Assessment ("EIA") to be initiated following the summer; This process will inform the completion of the EIA and subsequent Environmental Permit application; Reindeer Herding analysis, World Heritage Impact Assessments ("WHIA") and local stakeholder engagement ongoing; Submission of the Environmental Permit application now targeted for Spring 2025 Pre-Feasibility Study ("PFS"); Final results from metallurgical test-work anticipated within coming weeks; Initial indications confirm that Gallok can produce a very high grade, low impurity concentrate; Infill drilling programme, focused on upgrading Inferred resource to Measured and Indicated category, now expected to commence in Autumn 2024; Following this drilling, the Mineral Resource Estimate ("MRE") will be updated and form the basis of mine planning and reserve estimation; Other workstreams including metallurgy, mineral processing, waste management, site infrastructure and transportation and logistics are being advanced or nearing completion; Conclusion of the PFS now anticipated in second quarter 2025 to allow focus on environmental permitting activities. The consultation is a critical element of the EIA process and will inform the subsequent Environmental Permit application. In parallel with this, the company continue to progress numerous studies critical for the permitting process including the Reindeer Herding analysis. The company continue to progress numerous studiescritical for the permitting process including the reindeer Herding analysis, WHIA and Waste Management Plan. The initial step in the Environmental Permitting process is the completion of an EIA. This requires the broad parameters of the Project to be presented to a range of stakeholders including Government agencies and local communities. The initial consultation documentation is being prepared and the intention is to initiate the consultation process during Third Quarter 2024. It is anticipated that the consultation process will take approximately six weeks to complete. Thereafter, feedback from the consultation will be incorporated within the final EIA and subsequent Environmental Permit application. In parallel with the EIA consultation, a range of studies are required as part of the Environmental Permit application including: Hydrogeological assessment, Surface water impact assessment, Dust assessment, Noise assessment, Biodiversity assessment, Reindeer herding analysis, Ecological compensation plan, Social impact assessment, World Heritage impact assessment, Waste management plan including mine closure plan. The Environmental Permit application is submitted to the Environmental Court for review under the Environmental Code. The final submission of the application is anticipated in Spring 2025. Based on recent precedents in Sweden, the Environmental Court is now expected to take approximately two years to review the application. Following the approval of the Environmental Permit, the Company will also require a Land Designation Permit and Construction Permit prior to construction of the Project. The PFS consists of a broad range of workstreams assessing the technical and economic viability of the Project. Those that are well-advanced include: Metallurgy, Mineral Processing, Site Infrastructure, Logistics and Transportation, Water Management, Waste Management. With the infill drilling programme deferred until the autumn, the following workstreams are yet to be initiated although they will clearly build on the work already completed in the preparation for the Scoping Study released in 2023. These workstreams include: Mineral Resource Estimate, Mine Engineering and Scheduling, Mineral Reserve Estimation. With the conclusion of the technical studies, the economics of the project will be assessed including market studies and analysis of capital and operating costs. It is currently anticipated that the PFS will be completed in Second Quarter 2025, after which a Feasibility Study will be initiated which is expected to take approximately 12 months to conclude. Duyuru • Jun 05
Beowulf Mining plc and Jokkmokk Iron Mines AB Provide an Update on the Gallok or Kallak Iron Ore Project Beowulf Mining plc and Jokkmokk Iron Mines AB provided an update on the Gallok or Kallak Iron Ore project. Stakeholder interaction: Positive engagement with delegation from UNESCO ("United Nations Educational, Scientific and Cultural Organization") to discuss the development of Gallok in the context of the Laponia World Heritage Site, Initiation of meetings with local stakeholders including landowners and Sami villages focused on developing collaborative approach to future activity, Environmental workstreams: Hydrogeology test-work initiated with ramp-up in activity in coming weeks, Continuation of baseline studies including bird surveys, water sampling and noise monitoring, Technical activity: Metallurgical test-work nearing completion; Open pit geotechnical field work completed with laboratory analysis underway; In-fill drilling planned for summer period primarily to upgrade Inferred resource to Measured and Indicated category, Trade-off study on location of tailings management facility completed with initial TMF design work underway, Logistics and transport study initiated with initial trade-off nearing completion. Permitting: Preparations are underway for the Environmental Impact Assessment and environmental permit application. While no specific timelines have been given, the decision from the Supreme Administrative Court is anticipated within the coming weeks. Duyuru • May 22
Beowulf Mining plc, Annual General Meeting, Jun 14, 2024 Beowulf Mining plc, Annual General Meeting, Jun 14, 2024. Location: 4 more london riverside, se1 2au, london United Kingdom Duyuru • May 10
Beowulf Mining plc to Report Q1, 2024 Results on May 27, 2024 Beowulf Mining plc announced that they will report Q1, 2024 results on May 27, 2024 New Risk • Apr 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 65% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 29% per year over the past 5 years. Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (UK£13.9m market cap, or US$17.4m). Duyuru • Apr 04
Beowulf Mining plc has completed a Follow-on Equity Offering in the amount of SEK 56.284687 million. Beowulf Mining plc has completed a Follow-on Equity Offering in the amount of SEK 56.284687 million.
Security Name: Swedish Depository Receipts
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 625,000,000
Price\Range: SEK 0.08
Security Name: Swedish Depository Receipts
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 78,558,588
Price\Range: SEK 0.08
Transaction Features: Rights Offering New Risk • Mar 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.81m (US$9.87m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£7.81m market cap, or US$9.87m). Minor Risk Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Duyuru • Feb 20
Beowulf and Grafintec Oy Provide an Update for the Advance Site Reservation in the GigaVaasa Area for the Establishment of the Graphite Anode Materials Plant Beowulf and its wholly owned Finnish subsidiary Grafintec Oy (Grafintec), provided an update for the advance site reservation in the GigaVaasa area for the establishment of the Graphite Anode Materials Plant ("GAMP"). On 14 February 2024, the municipality of Korsholm approved a renewal of the advance site reservation for Plot 1, Block 3017 in the Giga Vaasa area by a further six months. The extended advance site reservation is valid until 31 July 2024, with option to extend further. Duyuru • Feb 16
Beowulf Mining plc, Annual General Meeting, Mar 05, 2024 Beowulf Mining plc, Annual General Meeting, Mar 05, 2024, at 14:00 Central European Standard Time. Location: Arena Sergel, Malmskillnadsgatan 36 Stockholm Sweden Agenda: To consider and approve the Proposed fundraise to advance Beowulf projects. New Risk • Jan 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£4.2m free cash flow). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (39% increase in shares outstanding). Market cap is less than US$100m (UK£20.4m market cap, or US$25.9m). New Risk • Nov 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£4.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£4.2m free cash flow). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (39% increase in shares outstanding). Market cap is less than US$100m (UK£18.2m market cap, or US$23.0m). Duyuru • Nov 01
Beowulf and Jokkmokk Iron Mines AB Announces Renewal of Exploration Licence At the Kallak Iron Ore Project Beowulf and its wholly owned Swedish subsidiary Jokkmokk Iron Mines AB announced that Jokkmokk Iron has been awarded exploration licence Kallak nr 101. The licence is a renewal of the previous exploration licence, Kallak nr 1, held by the Company and surrounds the Kallak exploitation concession, Kallak K nr 1, awarded in March 2022. The Kallak nr 101 exploration licence area includes the majority of the Kallak South-North deposit which contains total resources of 21 million tonnes at 26.9% Iron in Indicated category and 6 million tonnes at 23.4% Fe in Inferred category. In combination with the Kallak South-South deposit, which hosts 8 million tonnes at 26.1% Fe in Inferred category, the Kallak South deposits have the potential to add a number of years to the Kallak mine life. The exploration licence was issued with permit identification number 2023:765 according to the Minerals Act (1991:45) by the Mining Inspectorate of Sweden. The exploration permit covers an area of 397.09 hectares, remains valid from 26 October 2023 until 26 October 2026 and gives the exclusive right for the Company to undertake exploration work within the granted area in order to demonstrate the mineral potential. The application for Kallak nr 101, over the same area as expired licence Kallak nr 1, was submitted on 29 June 2023 after the Company was awarded an exemption from the customary one year ban on licence renewals following the termination or expiry of licences. This exemption was granted in light of the Company's Exploitation Concession, significant historical work completed and reasonable prospects for discovering additional iron ore. The terms of Kallak nr 101 are standard for exploration permits with the Company being required to submit a work plan prior to drilling and other exploration activity, reaching agreements with landowners to undertake activity and providing compensation for any impacts caused by this exploration activity. Jokkmokk Iron will continue to comply with the terms of the Exploitation Concession. Furthermore, the Company remains committed to developing a sustainable mine at Kallak that will benefit all stakeholders. Duyuru • Oct 26
Beowulf and Jokkmokk Iron Mines AB Provide an Update on Recent Activity At the Kallak Iron Ore Project Beowulf and Jokkmokk Iron Mines AB provided an update on recent activity at the Kallak Iron Ore project ("Kallak project" or "the project") and the plan for its further advancement. The focus of activity over the majority of the year has been on initiating the baseline environmental studies required as part of the EIA and Environmental Permit application process. These environmental studies include: Natural values assessment · Initial fieldwork assessment of nature values completed including land, bird, and surface water surveys. · Water sampling is ongoing. · Follow-up bird survey to be undertaken during the spring and summer of 2024. Additional more in-depth studies will be required as the PFS advances and the project is better defined. Sound and vibration monitoring. Sound and vibration monitoring at four sites located in the vicinity of the Kallak project. Work began in July and is planned to continue for a full year to provide sufficient data for the EIA. Preliminary inventory of houses along the primary access road completed. A full house inventory will be required for both the project area and transportation routes in due course. Hydrology studies. Hydrological wells drilled in March 2023. · Will be used to assess pit dewatering and availability of water for plant. Pump testing to be undertaken during the spring and summer of 2024. Cultural heritage survey · Cultural heritage survey including desktop review and field studies were completed with a final report expected before the end of the year. Further studies will be required for both the project area and transportation routes in due course. The strategic review of the Kallak project focussed on opportunities to optimise the development plan and ultimately maximise the project's value. Significant technical work has been completed on the project, initially by the Swedish Geological Survey ("SGU") who completed 13 diamond core drillholes between 1948 and 1972 for a total of 1,999m. Subsequently, between 2010 and 2014, the Company drilled a further 132 diamond core drillholes for a total of 28,114m, with a drill spacing of 100m x 100m to 50m x 50m, sufficient to define the mineral resource estimate of 111Mt at 28% Fe in the Measured and Indicated category and 25Mt at 28.3% Fe in the Inferred category over the Kallak North project. The resources are defined under the Pan-European Reserves and Resources Reporting Committee ("PERC") Standards 2017, by Howard Baker (FAusIMM(CP)), an independent Competent Person as defined in the PERC Standard 2017. Given this drill density, no additional resource drilling is required for the completion of the PFS. In addition to standard laboratory assays and magnetic susceptibility measurements, a series of metallurgical test programmes have been conducted. Furthermore, during 2013, trial mining from a number of test pits across the Kallak North deposit was undertaken with bulk metallurgical test work being undertaken on approximately 500 tonnes of excavated material. The results from the historic test work have consistently demonstrated the ability to produce a high-grade concentrate of over 68% Fe with very low impurities. The metallurgical test work required for the PFS has been designed, incorporating an analysis of the historic programmes and with the support of Mineral Processing Engineer Bo Arvidson who has over 50 years industry experience, is considered a Competent Person in his field and was the metallurgy and mineral processing lead for the Scoping Study. Representative material for a total of more than 500kg from both drill-core and trial mining pits has been selected for a range of comminution and beneficiation tests. As a result, no metallurgical drilling will be required for the completion of the PFS. The strategic review has therefore confirmed that no additional resource or metallurgical drilling is required for the completion of the PFS. This has positive implications from both cost and timing perspectives. Having completed the strategic review, the Company has appointed SLR as lead consultant to manage the PFS. SLR will work with a number of other consultants, each specialists in their field, including metallurgy and processing, waste management, logistics, and transportation, to complete the various work streams and prepare the final PFS report. Duyuru • Jul 11
Beowulf Announces Appointment of Mikael Schauman as Non-Executive Director Beowulf Mining plc announced that Mikael Schauman has been appointed to the Board as Non-Executive Director. Mikael Schauman, a Swedish national, has been involved in base metals for the past forty years. His experience stretches from industrial marketing of products of mining companies as well as worldwide responsibility for trading these products to Senior Management of a publicly listed mining company. Mikael is versed in the field of mining, management of mining companies as well as commercialisation of the products, including industrial marketing, agency business and third-party trading, on a global basis. Mikael Schauman holds a BSc in Finance fromStockholm School of Economics.He started his career at Boliden and subsequently spent 18 years at various commodity trading companies. For the past 16 years he served in the senior management of Lundin Mining Corporation as VP and SVP Commercial. In this role he had sole responsibility for the company's commercial organisation and world-wide sales.Mikael has at the same time actively contributed to increasing growth within Lundin Mining, for example via the acquisitions and mergers made over the years. In the role of senior manager, he has also contributed to developing the Groups sustainability work. Duyuru • Jun 06
Beowulf Mining plc, Annual General Meeting, Jun 29, 2023 Beowulf Mining plc, Annual General Meeting, Jun 29, 2023, at 08:00 Central European Standard Time. Location: Waterfront Building, Klarabergsviadukten 63, 101 23 Stockholm Stockholm Sweden Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Chris Davies was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Chris Davies was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.