Beowulf Mining PLC - Sweden, Finland and Kosovo-focused mining company - Provides update for the graphite anode materials plant in the GigaVaasa area. Updates strategy to fast-track full GAMP process to capture more of the anode material production value-chain and provide greater supply-chain security following the export controls imposed by China on graphite materials in December 2023. Explains graphite concentrate will initially be sourced from third parties but ultimately the intention is to develop own deposits in Finland where preliminary metallurgical test-work has returned very encouraging results. Says enhanced pre-feasibility study on the full GAMP process is expected to be concluded during 2024. Chief Executive Ed Bowie comments: ‘This updated strategy builds on the PFS completed last year and, through capturing more of the value-chain, is expected to improve the already excellent economics.’
Current stock price: 1.34 pence, down 0.4% in London on Wednesday
12-month change: down 67%
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