Beowulf Mining PLC Board Changes (3363Y)
May 03 2023 - 12:15PM
UK Regulatory
TIDMBEM
RNS Number : 3363Y
Beowulf Mining PLC
03 May 2023
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03 May 2023
Beowulf Mining plc
("Beowulf" or the "Company")
Board Changes
Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and
development company, announces that CEO, Kurt Budge, is stepping
down from the Company and will cease to be a director with
immediate effect to pursue other business interests. Kurt Budge has
been with the Company for nine years and has been instrumental in
the its growth, including the award of the Exploitation Concession
for Kallak North.
Kurt Budge will be replaced by Johan Röstin who will serve as
Executive Chairman and interim CEO until a permanent successor is
appointed.
The board is confident in this interim solution and Johan's
ability to lead the Company during this transitional period.
Beowulf remains committed to its mission and values and the Company
is looking forward to continuing its work to provide sustainable
mining operations at Jokkmokk Iron (Sweden), Grafintec (Finland)
and Vardar Minerals (Kosovo).
Johan Röstin, Executive Chairman and interim CEO, commented:
"Kurt has a deep understanding of the industry and market
trends, and has been able to develop and execute effective
strategies to meet the Company's objectives. His presence has been
pivotal to the Company, especially in achieving the successful
delivery of the Exploitation Concession for Kallak North.
Additionally, over his tenure, Kurt has helped build three
successful businesses which can all operate independently to
provide future value to Beowulf and its stakeholders. We want to
thank Kurt for his many years of service and wish him all the best
in his future endeavours.
"New, climate-smart technologies require more minerals than
fossil-based technologies. The demand for minerals will therefore
increase significantly and our operations are excellently
positioned as potential safe and sustainable supplier of
high-quality raw materials."
Kurt Budge commented:
"I was appointed CEO of Beowulf in 2014 and during these nine
years I have endeavoured to deliver growth and value for all
stakeholders. The world needs a green transition, and this is where
the mining industry can play a crucial role in the supply of
critical raw minerals. With the Exploitation Concession for Kallak
North having been awarded and, due to the nature of the project and
its location, now is the time for me to step down as the project
and the Company progresses to the next phase. I will continue to
follow the Company's continued exciting journey and wish the team
success."
For more information, please contact:
Daniel Lagerqvist
daniel.lagerqvist@jokkmokkiron.se
Tel: +46 (079) 060 56 62
SP Angel (Nominated Adviser & Broker)
Ewan Leggat / Stuart Gledhill /Adam Cowl
Tel: +44 (0) 20 3470 0470
BlytheRay
Tim Blythe / Megan Ray
Tel: +44 (0) 20 7138 3204
About
Beowulf Mining is a mining company with main activities in
exploration and development in Sweden, Finland and Kosovo.
Beowulf's portfolio is diversified by commodity, geography and
stage of development of the projects. Development consists
primarily of iron ore, graphite, gold and other base metals.
Beowulf Mining was founded in 1988 and is headquartered in London,
England.
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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