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Beowulf invests a further £100 000 in Vardar

6th November 2019

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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Exploration and development company Beowulf on Wednesday invested a further £100 000 in Vardar Minerals, increasing its ownership from 40.1% to 41.5%.

The latest investment follows £150 000 that Beowulf put into Vardar last month.

The funds will enable the Kosovo explorer to conclude its 2019 exploration programme and to ready itself for starting geophysical surveys next year.

Vardar is active in the prospective Tethys Arc – a region experiencing increased focus following recent porphyry-related copper/gold discoveries. The exploration company recently reported on the identification of extensive lead/zinc/silver mineralisation at its Wolf Mountain prospect.

"Vardar represents a significant opportunity for the company to continue to invest in exploration. It's pleasantly refreshing to work in Kosovo, where, on the past year's evidence, Vardar has been able to make tremendous progress, get things done, and deliver real exploration success,” commented CEO Kurt Budge.

Edited by Creamer Media Reporter

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