Beowulf Mining SDB

Beowulf Mining plc has announced the final terms of a capital raise involving the issuance of new shares and Swedish Depository Receipts (SDRs). The capital raise includes a conditional placing and subscription, a rights issue, and a retail offer in the UK, aiming to raise up to approximately SEK 59.1 million (£4.6 million). The funds will primarily be used for the development of the Kallak Iron Ore Project in Sweden and the Graphite Anode Materials Plant in Finland, as well as for working capital. The rights issue offers new SDRs at SEK 1.40 each, while the UK retail offer prices new ordinary shares at 11 pence each. Beowulf has secured underwriting commitments covering 40% of the rights issue. The capital raise will result in a significant increase in the company's share capital and potential dilution for non-participating shareholders. The proceeds will help the company advance its projects and seek alternative funding options. The announcement also contains forward-looking statements subject to various risks and uncertainties.

Beowulf Mining plc announced that CEO Ed Bowie will host a live presentation and Q&A session on 16 April 2025 to update on the company's activities and capital raise, and to answer investor questions. The event is open to current and potential shareholders, who can submit questions before or during the webinar via the Engage Investor platform. The announcement includes contact details for company representatives and brokers. A cautionary statement notes that forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ from expectations.

Beowulf Mining Plc has released an interview with its CEO, Ed Bowie, discussing the company's recent capital raise and providing updates on the Kallak Iron Ore Project in Sweden and the Graphite Anode Materials Plant in Finland. The interview is available online. The announcement includes contact information for Beowulf Mining and its advisers. A cautionary statement notes that forward-looking statements in the document are based on current expectations and assumptions, but actual results may differ due to various risks and uncertainties, such as changes in economic and political environments, geological information, financing availability, joint ventures, and metal prices. Beowulf is not obligated to update these statements immediately.

Beowulf Mining plc is calling a General Meeting on 8 April 2025 to discuss a Capital Raise through a conditional placing and subscription, aiming to raise at least £1 million. This is part of a larger effort that includes a Rights Issue of Swedish Depository Receipts (SDRs) and a UK Retail Offer, potentially raising approximately £2.9 million. The company has secured underwriting commitments for 40% of the Rights Issue. The funds will primarily support ongoing projects in Sweden, including the Kallak Iron Ore Project and a Graphite Anode Materials Plant. Two resolutions will be proposed: one to authorize the allotment of shares and another to disapply pre-emption rights. The Directors recommend shareholders vote in favor of these resolutions to ensure the Capital Raise can proceed, as it is critical for the company's financial stability. Shareholders can vote in person or by proxy, with detailed instructions provided for both options.

Beowulf Mining plc has announced a plan to conditionally raise approximately £1.0 million (SEK 13 million) through a placing, as part of a larger capital raise aimed at gathering at least £2.1 million. This funding will support the development of the Kallak Iron Ore Project in Sweden, the Graphite Anode Materials Plant in Finland, and general corporate purposes. The company has also planned a General Meeting for 8 April 2025 to gain approval for increasing share capital issuance. The capital raise includes a Rights Issue and a UK Retail Offer, aiming to gather up to SEK 59 million (approximately £4.5 million). The funds will help advance technical and environmental studies for Kallak and GAMP, and provide working capital into 2026. Beowulf has secured underwriting commitments for part of the Rights Issue and has arranged a Bridge Loan to ensure continued operations. The company is also pursuing strategic partnerships to further de-risk and accelerate project development.

Beowulf Mining Plc and its Finnish subsidiary, Grafintec Oy, have announced the successful completion of a Pre-Feasibility Study (PFS) for their Graphite Anode Materials Plant (GAMP), demonstrating strong economic potential. The study reveals a post-tax Net Present Value (NPV) of €924 million and an Internal Rate of Return (IRR) of 37% for Phase 1, with potential expansion in Phase 2 increasing these figures significantly. The project plans to produce Coated Spherical Purified Graphite (CSPG) for the European lithium-ion battery sector, initially importing raw materials before potentially developing their own mining projects. The plant is to be located in Finland, benefiting from local support and resources. The PFS outlines a phased development strategy, with Phase 1 aiming for 25,000 tonnes per year of CSPG, expanding to 75,000 tonnes in Phase 2. The economic analysis was conducted by Anzaplan, highlighting competitive operating costs and potential government and EU support through grants and tax incentives. Beowulf is also considering strategic partnerships and additional financing to advance the project. The company is exploring further development of its graphite resources in Finland to enhance supply chain integration and project economics.

Beowulf Mining plc announced its unaudited preliminary financial results for the year ending 31 December 2024. The company, focused on mineral exploration and development, reported a consolidated loss of £1,789,000, an improvement from the previous year's loss of £2,937,909. This reduction in loss was attributed to decreased professional fees, foreign currency losses, salary costs, and other expenses. Beowulf's activities during the period included significant progress at the Kallak Iron Ore Project in Sweden, where metallurgical test-work confirmed the production of high-grade iron ore concentrate. In Finland, the development of the Graphite Anode Materials Plant was advanced, with test-work demonstrating the ability to produce battery-grade material. In Kosovo, Beowulf consolidated full ownership of Vardar Minerals Limited, enhancing operational control. The company raised approximately £4.4 million through a rights issue and other means to fund ongoing projects. Despite these advancements, Beowulf noted challenges in securing additional financing to continue project development. The company is working with advisers to procure near-term financing, though there is no certainty of success. The financial position at the end of 2024 showed cash holdings of £881,349 and an increase in exploration assets to £15,521,317. Beowulf highlighted the need for additional funds to continue its operations and advance its projects.