Beowulf Mining says no news on Kallak North

Beowulf Mining noted the recent rise in its share price and comments over the weekend by the chief mining inspector in Finland, who said she hoped there would be clarity this week over which direction the process for the award of the exploitation concession for Kallak North was heading.

The AIM-listed mineral exploration and development company clarified that it has not received any new information regarding the award of the exploitation concession and said that while it remains hopeful an award will be made, there can be no guarantee as to when or if any award will be made.

It will update the market as and when appropriate.

Earlier this month, shares in the company tanked and were suspended after its application for an exploitation concession for its Kallak North property was referred by the Norrbottenback County Administrative Board back to the Mining Inspectorate of Sweden.

The CAB referred the matter to the mining inspectorate "with respect to matters regarding the effects of a mining operation at Kallak on Laponia".

At 1024 GMT, the shares were up 23% to 12.25p.