25 June
2024
Beowulf Mining plc
("Beowulf" or the
"Company")
Update on the Kallak Iron Ore
Project
Beowulf (AIM: BEM; Spotlight: BEO), and its
wholly owned Swedish subsidiary Jokkmokk Iron Mines AB ("Jokkmokk
Iron"), are pleased to confirm that the Supreme Administrative
Court (the "Court") has upheld the Government's awarding of the
Exploitation Concession for the Gállok/Kallak Iron Ore Project
("Gállok").
Court
ruling
On 25 June 2024 the Swedish Supreme
Administrative Court released its judgment upholding the
Government's decision to award the Exploitation Concession for
Gállok in March 2022 (https://polaris.brighterir.com/public/beowulf_mining_plc/news/rns/story/w0mop8x).
The Exploitation Concession and all attaching conditions therefore
remain in full force.
Read the full Swedish Supreme Administrative
Court decision:
https://www.domstol.se/globalassets/filer/domstol/hogstaforvaltningsdomstolen/2024/domar-och-beslut/3893-22.pdf
Ed Bowie,
Chief Executive Officer of Beowulf, commented:
"We are
delighted that the Court has concluded its process and we can
continue to advance the project towards the conclusion of the
Pre-Feasibility Study and Environmental Impact Assessment. Gállok
has an important role to play in supporting the decarbonisation of
the steel industry and therefore has significance from a global
green energy transition perspective. We are also working extremely
hard to engage with all stakeholders to ensure the project delivers
maximum benefit to the local community."
Enquiries:
Beowulf Mining plc
Ed Bowie, Chief Executive
Officer
ed.bowie@beowulfmining.com
SP
Angel
(Nominated Adviser & Joint
Broker)
Ewan Leggat / Stuart Gledhill / Adam
Cowl Tel: +44 (0)
20 3470 0470
Alternative Resource Capital
(Joint Broker)
Alex
Wood
Tel: +44 (0) 20 7186 9004
BlytheRay
Tim Blythe / Megan Ray
Tel: +44 (0) 20 7138 3204
Cautionary
Statement
Statements and assumptions made in this
document with respect to the Company's current plans, estimates,
strategies and beliefs, and other statements that are not
historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are
not limited to, those using words such as "may", "might", "seeks",
"expects", "anticipates", "estimates", "believes", "projects",
"plans", strategy", "forecast" and similar expressions. These
statements reflect management's expectations and assumptions in
light of currently available information. They are subject to a
number of risks and uncertainties, including, but not limited to ,
(i) changes in the economic, regulatory and political environments
in the countries where Beowulf operates; (ii) changes relating to
the geological information available in respect of the various
projects undertaken; (iii) Beowulf's continued ability to secure
enough financing to carry on its operations as a going concern;
(iv) the success of its potential joint ventures and alliances, if
any; (v) metal prices, particularly as regards iron ore. In the
light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results
could differ materially from those presented and forecast in this
document. Beowulf assumes no unconditional obligation to
immediately update any such statements and/or forecast.
