LONDON (Alliance News) - Beowulf Mining PLC on Friday said it is "unaware of any reason" for the leap in the price of its shares.
The mineral exploration and development company, which is focused on the Kallak iron ore project in northern Sweden and its Swedish exploration portfolio, said there are "no further material operational or corporate updates" for it to report.
"The company continues its dialogue with the Swedish Government on the Kallak North Project. Further updates will be made as appropriate," Beowulf Mining siad.
Earlier on Friday Beaufort Securities, the company's corporate broker, maintained a Speculative Buy rating on the stock.
Shares in Beowulf Mining were up 29% at 5.61 pence on Friday late morning, having risen as high as 6.75p earlier in the day.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Beowulf (BEM)