7th Mar 2019 12:18
LONDON (Alliance News) - Beowulf Mining PLC said Thursday a subsidiary is to get funding from a group which has received EU financial backing.
Oy Fennoscandian Resources AB, wholly-owned by Beowulf, will get 50% of the EUR224,900 budget from Business Finland for graphite purification and spheroidisation testwork.
Business Finland has received EUR10 million funding for BATCircle, a battery metals project which is part of the EU's Strategic Energy Technology Program based in Finland.
Beowulf shares were up 1.3% on Thursday at a price of 7.75 pence each.
On Wednesday, Beowulf denied it had made a comment regarding permitting in Finland, in response to media reports.
The Nordic-focused company added if any development is achieved at any of its assets, it will report it via the "appropriate regulatory channels".
Related Shares:
Beowulf