Swedish Chairman Appointment
Beowulf Mining plc
("Beowulf" or the "Company")
30 October 2017
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations ("MAR") (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Kurt Budge, Chief Executive Officer.
Beowulf (AIM: BEM; AktieTorget: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, announces the appointment of Mr. Per Göran Färm (known as Göran, 68 years’ old) as Non-Executive Chairman of the Company with immediate effect.
Göran was born in 1949, and has been an elected Member of European Parliament (“MEP”) from 1999 to 2004 and, then again, from 2007 to 2014. Göran was also Deputy Mayor of Norrköping during the 1990s.
Göran has experience in industrial policy as a former Head of the Swedish Trade Union Confederation’s unit for economic policy and investigation, as head of business issues in the City of Norrköping and as former MEP of the Committee of Industry, Research, and Energy of the European Parliament.
Göran has extensive experience in communications as a former journalist, Director of Information at Riksbyggen, and as a public affairs advisor.
In 2015, Göran was elected as Chairman of Kommuninvest, a public development bank owned by Swedish municipalities, cities, and regions.
Kurt Budge, CEO, commented:
“I would like to give a final thanks to Bevan Metcalf, who has contributed so much to the Company over the past three years, and wish him the best in his retirement.
“It gives me great pleasure to welcome Göran to the team. He has shown great enthusiasm to playing a role in what, I hope, are the final stages to being awarded an Exploitation Concession for Kallak North. He has tremendous experience with Swedish media and politics, and will greatly complement the Beowulf team.”
Göran Färm, Chairman, commented:
“I am very pleased to be taking over stewardship of Beowulf from Bevan Metcalf, and I would like to join Kurt in thanking Bevan for his contribution to the Company.
“The crucial task ahead is to get the Kallak project in Jokkmokk started. We welcome that the Government has asked the County Administrative Board (“CAB”) for the County of Norrbotten to deliver its final opinion by 1 December 2017.
“I am looking forward to taking part and contributing to the development of a new and sustainable mining operation in Sweden, at Kallak.
“Through collaboration with local stakeholders, the Company will continue to reach out, seek, and find mutually acceptable solutions, and thereby overcome challenges.
“The Scoping Study provides an excellent opportunity to further demonstrate the Company’s ambition, to design and engineer a modern and sustainable mining operation, with proper care and attention given to the interests of reindeer herding communities.
“Kallak has the potential to transform Jokkmokk, with new jobs, new business opportunities, and new investment and development. I am looking forward to playing my part in delivering this exciting future.”
An interview with Göran Färm can be viewed at the following link:
Additional Information Required by AIM Rule 17
Pursuant to Rule 17, Schedule Two (g) of the AIM Rules, the following is disclosed in respect of Göran Färm:
Kommuninvest Ekonomisk Förening, Chairman of the Board
IKAGEMA AB and HB (renamed, earlier Infärmation Europa AB)
Appointments in the last five years:
Norrköping Airport AB, Chairman of the Board.
There is no other information regarding Göran Färm required to be disclosed under the AIM Rules.
Beowulf Mining – About Us
Beowulf Mining plc is a Nordic focused, multi commodity, exploration, and development company with assets in Sweden and Finland. Beowulf is listed on the AIM in London and the AktieTorget in Stockholm (AIM: BEM; Aktie: BEO). The Company is majority owned by Swedish investors.
The Company’s flagship project is the Kallak magnetite iron ore deposit near Jokkmokk, in the County of Norrbotten, northern Sweden, from which we have produced a testwork concentrate grading over 71 per cent iron content. The Company is awaiting a decision on its application for an Exploitation Concession for the Kallak North project.
The Company is also exploring for volcanogenic massive sulphide (“VMS”) type deposits on its Åtvidaberg Licence in Östergötland, southern Sweden.
In Finland, Beowulf has a portfolio of early-stage graphite exploration projects. Through its Finnish subsidiary, Beowulf is a partner in the FennoFlake project, a collaborative group with partners representing the entire graphite value chain, from identification to exploration and mining, processing to end products and market applications.
Beowulf Mining plc
Kurt Budge, Chief Executive Officer Tel: +44 (0) 20 3771 6993
Cantor Fitzgerald Europe
(Nominated Advisor & Broker)
David Porter Tel: +44 (0) 20 7894 7000
Tim Blythe/Megan Ray Tel: +44 (0) 20 7138 3204