Beowulf Mining has found a farm-in partner for its iron and titanium opportunity at Routevare
ASX-listed WAG is expected to sign a formal agreement with Beowulf in the next 60 days. It will spend A$1 on exploration, drilling and planning for a feasibility study. The plan is to obtain an inferred resource for the project. Once this money has been spent WAG will receive 50% of Routevare.
Routevare is in the Jokkmokk municipality, Norrbotten County, Northern Sweden.
The shares more than doubled in a couple of days. At 4.5p, Beowulf is valued at £3.64m.
Clive Sinclair-Poulton, who used to run Tanzanian gold explorer Bezant Resources, has joined the board as a non-executive. Sinclair-Poulton 2,500,000 options exercisable at 5p per share has been awarded 2,500,000 options exercisable at 5p per share. Other directors have been issued options at 6p a share.
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