2nd Jun 2016 07:38
LONDON (Alliance News) - Beowulf Mining PLC on Thursday said it has been awarded a three-year exploration licence for the Atvidaberg nr 1 area in Sweden.
Beowful said the licence area covers 225 square kilometres in the Bergslagen area of southern Sweden. The area includes a number of large and smaller mines producing copper, zinc, lead, gold, silver and iron ore.
"We are delighted to have been awarded an Exploration Licence for Atvidaberg nr 1, maintaining our Nordic focus, while adding some commodity diversification to our asset base," said Kurt Budge, Beowulf's chief executive.
In a business update on Tuesday, Beowulf had said that its focus remained on securing the long-delayed exploitation concession for its Kallak magnetite iron ore project in Sweden but that it was also looking to create a diversified portfolio through adding further projects.
Beowulf shares were up 13% to 4.25 pence Thursday, though still down 22% so far in 2016.
By Sam Unsted; [email protected]; @SamUAtAlliance
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