1st Apr 2019 09:57
LONDON (Alliance News) - Beowulf Mining PLC on Monday said it is to raise GBP750,000 to fund increased investment into a Kosovan miner.
Beowulf is issuing 13.6 million new shares at 5.5 pence apiece to raise the money, with shares down 14% on Monday at 6.00p.
This comes as Beowulf exercises an option to increase its stake in Vardar Minerals Ltd to 31% from 14%. Vardar owns the Mitrovica multi-commodity project in Kosovo.
Beowulf will also be using the money for drilling at its Aitolampi graphite project in Finland as well as work at Parkijaure, near its Kallak iron ore site in Sweden.
Related Shares:
Beowulf