Beowulf Mining PLC Beowulf Exercises Vardar Option (7017P)
October 14 2019 - 2:00AM
UK Regulatory
TIDMBEM
RNS Number : 7017P
Beowulf Mining PLC
14 October 2019
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.
14 October 2019
Beowulf Mining plc
("Beowulf" or the "Company")
Beowulf Exercises Vardar Option
Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and
development company, is pleased to announce that the Company has
today exercised its option in Vardar Minerals Limited ("Vardar"),
investing a further GBP115,000 and taking the Company's ownership
of Vardar from 37.6 per cent. to 40.1 per cent.
Kurt Budge, Chief Executive Officer of Beowulf, commented:
"With a series of recent announcements about Vardar's
exploration achievements at Mitrovica and Viti, and following the
Board's excellent visit to Kosovo, Beowulf has exercised its option
to increase its ownership of Vardar to 40.1 per cent.
"I look forward to keeping the market updated on further
progress in Kosovo."
Enquiries:
Beowulf Mining plc
Kurt Budge, Chief Executive Tel: +44 (0) 20 3771
Officer 6993
SP Angel
(Nominated Adviser & Broker)
Ewan Leggat / Soltan Tagiev Tel: +44 (0) 20 3470
0470
Blytheweigh
Tim Blythe / Megan Ray Tel: +44 (0) 20 7138
3204
Cautionary Statement
Statements and assumptions made in this document with respect to
the Company's current plans, estimates, strategies and beliefs, and
other statements that are not historical facts, are forward-looking
statements about the future performance of Beowulf. Forward-looking
statements include, but are not limited to, those using words such
as "may", "might", "seeks", "expects", "anticipates", "estimates",
"believes", "projects", "plans", strategy", "forecast" and similar
expressions. These statements reflect management's expectations and
assumptions in light of currently available information. They are
subject to a number of risks and uncertainties, including, but not
limited to , (i) changes in the economic, regulatory and political
environments in the countries where Beowulf operates; (ii) changes
relating to the geological information available in respect of the
various projects undertaken; (iii) Beowulf's continued ability to
secure enough financing to carry on its operations as a going
concern; (iv) the success of its potential joint ventures and
alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding
any mineral project at an early stage of its development, the
actual results could differ materially from those presented and
forecast in this document. Beowulf assumes no unconditional
obligation to immediately update any such statements and/or
forecasts.
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END
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