29th Jan 2015 09:51
LONDON (Alliance News) - Beowulf Mining PLC on Thursday said it has been advised that the decision from Swedish authorities on the Kallak North site has been delayed to late February.
The company said the Mining Inspectorate of Sweden has advised it the decision on the exploitation concession for the Kallak North iron ore project will be made in the second half of February. The delay has been caused by staff availability, Beowulf said.
"As stated previously, the timing of the inspectorate's decision does not affect the company's objectives for the development of Kallak," said Beowulf Chief Executive Officer Kurt Budge.
Beowulf shares were up 14% to 1.675 pence on Thursday, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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