Beowulf Mining

Beowulf Mining (LSE:) (Aktietorget:) is an exploratory mining company headquartered in Ely, Cambridgeshire. It owns several exploratory licences in Sweden focusing on Iron ore, Molybdenum, Copper, Gold and Uranium. Beowulf is listed on the Alternative Investment Market of the London Stock Exchange and its shares are also traded in the form of Depositary Receipts on the Aktietorget in Stockholm.
History
'E.Ruby PLC' was founded by Dr. Robert Young in 1988 and following a number of name changes, notably to 'Beowulf Gold' in 2003, became Beowulf Mining in March 2005 . Beowulf Mining was admitted to trade on the AIM index in May 2005, and admitted to trade on the Aktietorget index in 2008. In May 2009 Clive Sinclair-Poulton was appointed Executive Chairman, assuming the board responsibilities of Dr. Robert Young.. In April 2011 Beowulf set up a wholly owned Swedish subsidiary, Beowulf Mining AB, to facilitate the move from exploration to exploitation at their licences, most notably the Kallak Iron Deposit which is scheduled to begin pilot scale mining in 2012 . In 2011 Fred Boman was appointed production director, to assist with the development of Beowulf's iron ore projects towards potential future production. .
Iron Ore
Beowulf Mining holds licences for a number of Iron deposits in northern Sweden.
The Ruoutevare Iron Deposit has a JORC compliant resource estimate of 140 million tonnes of magnetite at a grading of 39.1% . Studies of geophysical data has revealed the presence of a further 72 - 100 Mt of Iron ore, which brings the total tonnage roughly in line with the 1970's SGU estimate of 250 Mt of Iron ore .
The Kallak Iron Deposit originally comprised solely of the Kallak north licence, which was believed to contain 92 Mt of magnetite at 35% grading . In mid 2010 Beowulf added the Kallak south licence, which was subsequently estimated at 400 million tonnes of Iron ore grading approximately 30% . Kallak is currently believed to contain at least 600 million tonnes of iron ore over a strike length of 4 km. In mid 2010 an independent conceptual study performed by the Raw Materials Group suggested an extraction program based on deposits at Kallak north and Ruoutevare of 150 and 140 million tonnes of iron ore respectively was feasible.
In addition Beowulf holds the Parkijaure nr. 1 licence, which is located south of Kallak Iron Deposit
Copper and Gold
Beowulf owns a 50% stake in the Ballek Copper/Gold project covering an area of some 110 km through its holding company, Wayland Copper Limited. The remainder of the project is owned by Energy Ventures Limited. Ballek consists of five licences, one of which has a JORC inferred mineral resource estimate of 5.4 million tonnes of ore grading copper at 0.8% and gold at 0.3 grammes per tonne, giving total quantities of 43,000 tonnes of Copper and 52,000 ounces of Gold .
Uranium
Beowulf holds a number of Uranium licences in Sweden, notably Geddaur 1 and 2 licences and the Manakjaure licences.

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