Beowulf Mining PLC has located Four deposits in northern Sweden that will be investigated further by diamond drilling in 2005.



Beowulf is the name of an epic poem, which is widely regarded as the first great work of English literature. The company is listed on the AIM market with the ticker BEM.

Note: On the 4th April 2005 the company changed its name from Beowulf Gold to Beowulf Mining. This was done to reflect the broader mining and exploration goals of the company. Previous company press releases have not been changed and will therefore still refer to the company as Beowulf Gold.





Corporate website : http://www.beowulfmining.com/

Aldwickk,

I sold out a while ago, I can't see them doing anything in the short term.


laila25,

I agree, the Agricola scandal did for these too IMO.

The old proverb - look before you leap - comes into play here.
Listening to the talk in the city seems to lead me to buy or keep, with talk of production in the near term.
The price has got to be on the way up up, and this is a great price to buy at.

marc3254,

Production in the near term?

From where exactly?

Beowulf have engaged swowdens to complete a feasability study. Ruoutevare is thier most likely candidate, with very promising results. Bob Young is a quiet master in his field, underestimate him at your own finicial peril.
He's also involved with a company called 'All Star Minerals', who are currently only listed on offex but are moving to AIM shortly. They are specializing in thorium. If youve never heard of write back, the future is thoriuim.

marc3254,

So you're saying thay have "engaged swowdens to complete a feasability study", and also "talk of production in the near term".

I would have thought they may wait for the feasability study to confirm what they think, then presumably they have to construct a mine of some sort, and cost it and fund it.

So my definition of "near term", and yours may vary somewhat.

I won't comment on "All Star Minerals" due to my thoughts on the age and inexperience of the COO.

Wait and see - for some reason you seem very down on these stocks, I think your secretly gutted that you sold out on them, just a little to early.
Our of thier projects to are looking good Ruoutevare and Grundtrask. I look forward to seeing your posts in the near future.
Incidently near term in my mind is within one year.

BEOWULF MINING PLC

Technical Review of Ruoutevare Titanium Iron Deposit, Northern Sweden, by
Snowden Mining Industry Consultants Ltd.

Drilling in September 2006 to Re-sample the Deposit to support JORC- Compliant
Resource Report

11 July 2006. In March 2006, Beowulf Mining PLC (AIM- BEM) the AIM-quoted
mineral exploration company was granted an exploration permit by the Swedish
state mining authority (Bergsstaten) for the Ruoutevare area in the Jokkmokk
County of northern Sweden. A previous resource estimate carried out by the
Geological Survey of Sweden (Sveriges Geologiska Undersoknning -'SGU') in 1975
reported a resource of 116 Mt of material averaging 38% iron, 5.6% titanium and
0.17% vanadium based on 32 drill holes. A richer section of 20 Mt is registered
with a grade of 47% iron, 10% titanium and 0.14% vanadium.

Snowden Mining Industry Consultants Limited ('Snowden') has completed a
technical review of the previous work and has also undertaken a preliminary
geostatistical analysis of the drill holes to support the preparation of a
JORC-compliant resource report.

Snowden concluded that the volumes, tonnages and average grades of the 116 Mt
resource are of the order of magnitude reported by the SGU in 1975. However they
cannot be regarded as being equivalent to a JORC-compatible Inferred Resource.

Snowden has therefore suggested additional work, which includes re-drilling of
holes as well as the drilling of additional, closer spaced, drill holes to
assess the deposit. Ten to twelve drill holes are suggested and these are
planned for September 2006. If this work confirms the previous estimates and
produces a JORC compliant resource report, Snowden recommends the preparation of
a detailed scoping / pre-feasibility report for the project. If the latter is
successful they recommend the completion of a full feasibility study for the
project.

Commenting on the report, Dr. Robert Young, Chairman of Beowulf, states 'the
directors are very encouraged and are looking forward to a successful drilling
campaign leading to a scoping / pre- feasibility study on the Ruoutevare deposit
(Ruoutevare when translated into English means 'iron mountain'). The Company has
sufficient existing resources for the drilling campaign'.


For further information contact:-


Dr. Robert Young, Chairman
Beowulf Mining plc Tel: +44 (0)1353 649 701

Gavin Burnell
Ruegg & Co Limited Tel: +44 (0)20 7584 3663

Nick Bealer
King & Shaxson Tel: +44 (0)20 7426 5986

Charles Dampney Tel: +44 (0)20 7822 7107
City Capital Securities Limited

Gary Middleton
St Swithin's Public Relations Tel +44 (0) 20 7929 4391

Still one to keep an eye on I think !

mrc3254,

You're starting to become personal now, always a bad sign!, so please leave out this type of comment. ok?


"I think your secretly gutted that you sold out on them, just a little to early.
Our of thier projects to are looking good Ruoutevare and Grundtrask. I look forward to seeing your posts in the near future."


The price is LOWER than when I sold, so just why I would be "gutted" I'm not sure!

Beowulf have quite a few projects in Sweden, and they have all looked like this new one, in terms of readiness at some point, and yet they move on to the next one, and the next one.

With regards to your "within one year" comment, I thik that looks challenging if you read this statement from the RNS you quote.


"If this work confirms the previous estimates and produces a JORC compliant resource report, Snowden recommends the preparation of a detailed scoping / pre-feasibility report for the project. If the latter is successful they recommend the completion of a full feasibility study for the project."

I count two "if's" there,so it's not a gimmee by any chalk IMO.

I have met and like Bob Young, but I think he made an error of judgement with Agricola with his bringing in a totally inexperienced and very young student, (and the accompanying allegations that are in the public domain!) has tainted the market's perception of all his companies.

Agricola has bombed, and I sold Beowulf as I feared a knock on effect.

Are you being personal about this young director?
What has age got to do with ability or knowledge?

I take it you dont hold with the school of teaching that say a good mixture of age, experience and youth, are the building blocks of a solid long term company.

marc3254,

I am not being personal towards him at all, IMO the person concerned lacks the experience needed to perform the role he has been given. That is my opinion.

The allegations made by Tom Winnifrith were never challenged in court, which they surely would have been if false! These allegations severely damaged the credibility of Agricola, IMO.

A combination of age and experience is a good mix, but you normally serve an apprenticeship first!

things moving in the right direction again.
A good stock to hold onto.


BEOWULF MINING PLC

News Release

Scoping Study of Ruoutevare Titanium Iron Deposit, Northern Sweden by Raw
Materials Group.


22 August 2006. Beowulf Mining PLC (AIM-BEM), the AIM-listed iron, titanium,
gold and copper exploration and development group has commissioned the Raw
Material Group of Sweden, ('RMG'
www.rmg.se
) to prepare a scoping study of the
Ruoutevare deposit. RMG will make an assessment of the potential value of the
iron, titanium, vanadium project and examine capital costs, operational costs
and the potential revenue receivable from exploiting the Ruoutevare deposit at
various mining outputs.


The Raw Material Group is one of Europe's leading groups of mineral economists.
It has recently published 'The Iron Ore Market 2005-2007' which was compiled for
the United Nations Conference on Trade and Development.

Commenting on the report, Dr. Robert Young, Chairman of Beowulf, states 'The
directors have decided to prepare the scoping study on Ruoutevare prior to
completing the extra diamond drilling for the JORC-compliant resource report,
which is now planned for 2007. This will give a better understanding of the
economics of the project'.


For further information contact :-


Dr. Robert Young, Chairman
Beowulf Mining plc Tel: +44-(0)1353 649 701


Gavin Burnell
Ruegg & Co. Limited Tel: +44-(0)207 584 3663


Nick Bealer
King & Shaxson Tel: +44-(0)207 426 5986


Charles Dampney Tel: +44-(0)207 822 7107
City Capital Securities Limited


Gary Middleton
St Swithin's Public Relations Tel +44 (0) 207 429 4391

marc3254,

There you go, I told you one year to production would be challenging!


Commenting on the report, Dr. Robert Young, Chairman of Beowulf, states 'The
directors have decided to prepare the scoping study on Ruoutevare prior to
completing the extra diamond drilling for the JORC-compliant resource report,
which is now planned for 2007. This will give a better understanding of the
economics of the project'.

Andy,
Because of the complexities of mining from this site it make sense to check out all viable options before making a decision., hence the scoping study. I would concur with a delay to ensure the correct decision is made, on how to move the minerals from the mine to the main transport links. The main options seems to be a conveyor belt system, road building and rail line building. All would give Beowulf the ability to mine different amounts per year but also have varying costs. It is vital that the most cost effective and productive method is chosen.

More importantly Beowulf are heading in the right direction and this is a very encouraging announcement.

marc3254,

"Because of the complexities of mining from this site it make sense to check out all viable options before making a decision"

Exactly!

Do you remember my reply to you the other day, after you stated

"Incidently near term in my mind is within one year. "

And I said that would be "challenging"?

Add at least another year to your year, and that's 'IF' they are still going with that plan, rather than having moved onto another one.

Having been an active investor in the mining sector for a few years, I already understood "the complexities of mining", hence my answer to your "one year" statement!

Personally, by you stating one year I thought it was you that didn't understand the "complexities"!

Andy - things are looking good as is the share price. Im staying put.

Andy if you still read this, good news today again for beowulf with the results of the scoping study. US$50m per year turnover. Not bad for a company with a market cap of 3m.
Heres the announcement

Beowulf Mining PLC
24 October 2006


BEOWULF MINING PLC


Independent Conceptual Study on Ruoutevare Iron Titanium Deposit in Northern
Sweden

London, 24 October 2006. Beowulf Mining PLC (AIM : BEM) the AIM quoted resource
company with iron, titanium, gold and copper projects in Sweden, is pleased to
announce that Raw Materials Group (RMG) of Sweden has completed a conceptual
study of the Ruoutevare iron/titanium deposit. RMG suggest an extraction rate of
10 million tonnes per annum as an economic production rate, requiring further
cost analysis work to be undertaken on ore transportation.

RMG produced a simplified cash flow analysis for an eight year open pit
extracting 10 million tons per year. This produced a positive study with a cash
flow of just over US$50M per year from US$218 million per year of generated
revenues, using various assumptions. (Full report is on
www.beowulfmining.com
).

Ruoutevare is 5 km outside the Sareks Nation Park, and careful attention to the
landscaping of the mine and associated facilities will be required. RMG suggest
this may cause a delay in permitting of the deposit.

The study used current forecasts of revenues, capital costs and operational
costs applied to a life of mine financial model.

The Ruoutevare deposit is located in northern Sweden in the county of
Norrbotten, and is approximately 8 km NW of the small village of Kvikkjokk. The
project is at an altitude of 610 meters above sea level and will require for
transport purposes a new 15 km road to be built from the site to Kvikkjokk. Here
it would link up with the existing 180 km road to Murjek and onward road
transport or product reloading for rail shipment to the Gulf of Bothnia sea port
of Lulea. The Swedish iron ore mining company LKAB is shipping out from Lulea
annually some 4 Mt of magnetite concentrates and pellets to steel plants in
Finland and Sweden.

The deposit was originally discovered in the 18th Century. It was assessed by
Sveriges Geologiska Undersonkning (SGU) in the early 1970s during which time
ground geophysics, metallurgical test work and detailed diamond drilling were
completed. SGU determined a resource for the deposit of 116 Mt grading 38% iron
and 5.6% titanium. This data was reviewed by Snowden Mining Industry Consultants
Limited (Snowden) in 2006 for Beowulf and they reported a slightly higher
tonnage and a slightly lower grade.

The mineralization occurs within outcropping shallowly dipping anorthosite as
several separate tabular bodies in an area approx 1500m long and 200-300m wide.
Snowden concluded that there are probably two lenses lying one above the other.
Detailed geological mapping by Beowulf also found two over lying mineralised
lenses. Snowden and Beowulf both conclude that there is reason to believe that
the resource estimates can be increased by additional drilling.

The metallurgical test work was completed by LKAB and Rautaruukki during 1973
and gives potential recoveries, using magnetic separation and flotation to
produce an iron ore concentrate and an ilmenite concentrate. The metallurgical
recoveries are outlined below:

Grade Recovery

Ore feed to process plant 38% iron 5.6% titanium
Magnetite concentrate 65%iron 65%
Ilmenite 44% titanium dioxide 45%

A price FOB for magnetite concentrate is estimated to be US$52 per tonne and the
price FOB for ilmenite is estimated to be US$36 per tonne.

The capital expenditure plus mine operation costs are not a major impact on what
would be an open pit mine and are estimated to be 15% over the total eight year
mine life. Estimated costs are however relatively high mainly due to the cost of
transport and port handling charges.

Commenting on the conceptual study, Dr. Jan Ola Larsson, Beowulf's Swedish
Manager, stated:

'Initial indications on the economics of Ruoutevare are positive, but we need to
address the transportation costs by negotiations with the State bodies in
Sweden. It is believed from geological studies that the tonnage of the
Ruoutevare reserves can be increased by additional drilling, thus extending the
mine life and reducing overall unit costs. Selective mining of the deposit can
also be achieved to increase cash flow in the early years of operation, as the
SGU suggests that there is a 20 million tonne section grading 47% iron and 11%
titanium oxide. Metallurgical testing work to improve the concentrate grade is
ongoing'.

marc3254,

Well BEM won't be bringing that project online as a 3 million market cap company, as I would imagine the mine construction and road infrastructure will cost quite a bit, despite what is said above.

Transportation costs are a drawback, and it will be interesting to see if they manage to address and resolve this.

I see the price has fallen back today, now 2.75p BID.

Andy - im still holding and the price is above 4.
New licence area announced today. Patience is a virtue.

Andy found this today online Got to be good news

(DAGENS INDUSTRI, Saturday January 27, 2007, Special Section on Steel and Iron ore mining in Sweden)
(Unofficial Translation from Swedish to English)

ORE DISCOVERIES CAN LEAD TO DOUBLED EXPORT

New mines in Norrbotten may give 10 million tonnes per year


The importance of Sweden as an iron ore producer may increase dramatically. Within 5-10 years the production can be reaching 50 million tonnes per year. Double to that of present times. Two new mines are on their ways to be opened in Norrbotten.

It is the British Beowulf and the Canadian Northland Resources which has interesting projects says Magnus Ericsson, Raw Materials Group.

The Swedish State owned iron ore giant LKAB last year produced above 23 millions tonnes. This year the production is forecast to be 25 millions tonnes. And the target for 2008 is 30 millions tonnes of pellet ore.

A new main mining level at the LKAB Kiruna-mine will be ready for 2010 to ensure more long term mining.

At that time (2010) it is possible that Beowulf has commenced Ruoutevare deposit in the vicinity of Jokkmokk and Northland Resources at Stora Sahavaara

My evaluation is that the production can reach about 10 million tonnes per year for both projects. In both cases the deposits have been known since long time

The mining activity is moving forward rapidly as both deposits have been mapped and evaluated again only environment reporting is left. The Ruoutevare deposit located at Jokkmokk is reported to contain 116 millions tonnes with 38% Fe and 5.6% Ti.

Northland Resources deposit is located at Pajala near the border to Finland. The orebody continous into Finland where there are plans to awake earlier plans to start iron ore mines at Rautuvaara and Hannukainen.

Iron, copper and gold
The Stora Sahavaara iron deposit is estimated to contain 145 million tonnes of mineable ore. The iron content is about 43% but it also contains some copper and gold.

There were many mining projects in Sweden which emerged in 1970s in the previous steel boom, which now are re emerging. There has to be new investments in mines to meet the large demand for iron ore, says Magnus Ericsson.

Closed mines are opened up
We are also seeing another trend whereby earlier closed mines are opened up. We have the Dannemora mine here in Sweden, Sydvaranger in Norway, Arcelo Mittals entry in Liberia and in South America at Sierra Grande in Argentina,

Beowulf Mining plc is listed on the AIM market in London and has plans to be listed in Stockholm
Northland Resources is listed on the stock exchanges at Toronto, Frankfurt and Oslo.

I would not be surprised if Russian or Chinese steelcompanies or Arcelor Mittal will step in as part owners in both these projects in the Norrbotten county of Sweden. That would vitalize the mining scene here in Sweden in the same way as the Lundin Group did 10 years ago , says Magnus Ericsson.

A trend in the present boom is that more steel companies want to integrate into iron ore mines to ensure their own iron ore demand.