News blog
Beowulf Mining
- BY: Andrew Hore |
- POSTED: 03/03/2010 |
Beowulf Mining has announced that an independent survey has confirmed that the Kallak deposit is another potential open pit iron ore mine.
Beowulf has already confirmed that Ruoutevare is a major iron ore deposit and Kallak is near by.
The Raw Materials Group says that Kallak has a potential cash flow, after capital and operating costs, of $2.86bn. Gross revenues would be $6.8bn at an extraction rate of 10m tonnes a year. There is a 15 year mine life. The capital cost is estimated at £910m.
At 3.75p a share, Beowulf is valued at £3.97m.
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