https://www.engineeringnews.co.za

Beowulf raises another £500 000

16th April 2019

By: Creamer Media Reporter

     

Font size: - +

Nordic-focused mineral exploration and development company Beowulf Mining has announced that it will raise £500 000 by issuing shares at 5.75p each.

The funds are for general working capital purposes and for supporting its commitment to Vardar Minerals’ Kosovan exploration programme, the company said in an announcement on Tuesday.

"With the announcement of our previous fundraise, I made mention of the adverse market conditions affecting the junior mining sector and the uncertainty surrounding Brexit.  I am pleased that investor interest has again been shown in supporting the company, with an offer of additional funding,” said CEO Kurt Budge.

Beowulf on April 1 announced a £750 000 capital raising, part of which it used to increase its stake in Vardar Minerals from 14.1% to 31.3% and to fund the private explorer’s 2019 exploration programme.

"Given the positive trajectory we have with Kallak, our graphite in Finland and our investment in Vardar Minerals, having this extra cash gives the company flexibility in continuing to deploy capital across our business areas and create shareholder value,” Budge added.

Vardar’s Kosovan exploration programme targets lead/zinc/silver, copper and gold mineralisation at the Mitrovica project and copper/gold, lithium/boron mineralisation at the Viti project.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Craig Miller Technical Services (CMTS)
Craig Miller Technical Services (CMTS)

CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.045 0.938s - 140pq - 2rq
Subscribe Now