Published: 1/21/2026 8:23:33 AM

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Finwire about Beowulf Mining PLC: Beowulf Mining continues to work on long-term financing - projects are progressing

The exploration company Beowulf Mining reiterates that it continues to work on a long-term financing strategy. A non-binding agreement has been signed for the sale of all of Vardar Minerals, while the subsidiary Grafintec is awaiting a decision on a loan of 7 million euros from Business Finland, which requires 5 million euros in new equity at the subsidiary level. The company warns that additional financing may be needed before the end of the quarter if deals are delayed or fall through.In Sweden, Jokkmokk Iron is focusing on optimizing mine haulage ahead of the pre-feasibility study and environmental permit for the Kallak project, in collaboration with two truck manufacturers with battery-electric and autonomous solutions. A sustainability strategy has been published. Once funding is in place, Jokkmokk Iron expects that it will take approximately six months to complete the remaining tasks to finalize its pre-feasibility study, PFS, and submit the environmental permit application.In Finland, Grafintec has submitted an application for strategic project status under the EU's Critical Raw Materials Act for the graphite anode plant GAMP and requested a review of the rejection of tax incentives. Environmental studies and site preparations in Kotka are underway.

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