Beowulf Mining reports a loss after taxation attributable to the owners of the parent company of £333,052 for the six months to the end of June - in line with the corresponding period last year of £330,276. The loss in Q2 2016 of approximately £166,000 was also in line with the loss in Q1 2016. Basic/diluted loss per share for the period of £0.07 showed an improvement over the loss per share for the corresponding period last year (June 2015: £0.09) and was significantly better than the 2015 full year loss per share of £0.38. Cash and cash equivalents at 30 June 2016 of £1,231,594, are £1,058,639 above the corresponding period last year and £878,680 above the level at 31 December 2015. Chief executive Kurt Budge said: "I am looking forward to the coming months as we increase our efforts to get the Exploitation Concession for Kallak North awarded, working with the Mining Inspectorate of Sweden and our stakeholders. "In the last month we have provided updates on our exploration activities in Finland and Sweden as we have been busy carrying out work at our graphite assets and at the Atvidaberg licence. In addition, we have been successful in the award of another exploration licence, Sala nr 10 in Sweden. "We have shareholders who remain focused on Kallak as the value driver of Beowulf, but our moves into graphite, Atvidaberg and Sala will show their worth in time. "It's nearly two years since my appointment as CEO, and while we are still waiting for a decision on the Exploitation Concession for Kallak North, Beowulf has diversified and made significant progress towards building a solid platform for a modern and sustainable mining business in the Nordic region. "We have never believed in 'sitting on our hands', and we are excited that we have momentum in the Kallak process, an opportunity to re-engage with the community in Jokkmokk and our stakeholders in Sweden, and we are actively working on our graphite portfolio and Atvidaberg licence. "I look forward to updating shareholders on our progress in due course."
0.00p (0.00%)delayed 18:15PM