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Beowulf Mining set for busy few months, says Cantor

Published: 12:00 08 Oct 2014 BST

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Important news flow should emerge on Beowulf Mining's (LON:BEM) Kallak project in Sweden in the next few months, reckons broker Cantor, which repeated a 'buy' recommendation on the stock.

It follows the release of some of the latest indications of metals so far from the property on Monday (Oct 6) in assays from its now completed 2014, 26 hole exploration programme.

Taken along with previous drilling, the findings extended the Kallak South deposit by 350 metres to the north, while the ore body remains open to the south and at depth.

Work is now continuing to evaluate the resource model for Kallak North and Kallak South, for which a further update will be forthcoming in Q4/14, before a comprehensive review workshop for Kallak, which will form the 2015 development plan, notes analyst Asa Bridle.

"With further assays to come, the 2015 development plan to be finalised and a decision due from the Mining Inspectorate on the mining concession application, the next few months should provide some important news flow in relation to the Kallak project," said the broker, which puts its target price under review.

BEM shares are up 10.11% in London to 2.45p.

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