UK 18:43 Tuesday, 27 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Long-suffering Swedish iron ore play Beowulf Mining (BEM) has taken cheer at a letter from the Mining Inspectorate of Sweden to the Stockholm government recommending the AIM-quoted company be granted an exploitation concession for its Kallak iron ore project in the north of the country, holding an estimated 151 million tonnes with between 26.2% and 27.5% iron. Shares in the company, for long out of favour with investors, have surged from a 12-month low of 1.15p and 2.07p when highlighted here in June to 3.9p, still a mere fraction of former levels, helped by the Inspectorate’s favourable reply about the project to the Swedish Department of Enterprise, which had inquired after the local County Board of Norbotten, where Kallak is situated, had pronounced ‘a mining project at Kallak can bring significant economic benefits.’
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Comments
martin ashworth
Sorry, BEM is a pointless company with a pointless project. What is the point of developing this tiny resources at current iron ore prices, when, just up the road at Kiruna you have the worlds 3rd largest underground iron ore mine? It has over 1bn tons of high grade ore remaining and a projected 200 year mine life as well as superb rail links to Narvik in Norway.
Beowulf’s beautiful project site best left to the Saami and their Reindeer I think – At least they know what they are doing, which is more than be said for Beowulf’s management, who don’t seem to realise that all Swedish mining projects end up being owned by the Swedish Govt in the end – so somewhere down the line, BEM shareholders are going to get shafted.