LONDON (Alliance News) - Mineral exploration and development company Beowulf Mining PLC on Tuesday said it has been awarded a new claim reservation in Finland.
Fennoscandian Resources, Beowulf's Finnish subsidiary, has been awarded additional ground in the Kolari graphite district, west of the Kolari reservation Beowulf already holds.
The area is believed to be prospective for high-grade, very fine-to-fine microcrystalline graphite.
"I am very pleased to announce the award of an additional claim reservation in Finland, increasing the area that we are investigating in the prospective Kolari graphite district, and the completion of low-cost geophysics programmes at Haapamaki and Pippumaki. The data collected is now being analysed, and we expect results in the coming weeks," said Kurt Budge, Beowulf's chief executive.
Beowulf shares were down 5.6% to 4.25 pence Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Beowulf (BEM)