REG - Beowulf Mining PLC - Update on Financial Position

Beowulf MiningAnnouncement

24/04/2026 12:15

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RNS Number : 8736B  Beowulf Mining PLC  24 April 2026

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018 (as amended). Upon the publication of this announcement,
through the agency of the contact person of the Company set out below, this
inside information is now considered to be in the public domain.

 

 

24 April 2026

 

 

Beowulf Mining plc

 

("Beowulf" or the "Company")

 

Update on Financial Position

 

Beowulf (AIM: BEM; Spotlight: BEO), the European mineral exploration and
development company, provides an update on its financial position.

 

Further to the Company's preliminary results announcement of 27 February 2026
and further update on 31 March 2026, the Company is in advanced discussions in
relation to a range of potential funding solutions and has received and is
reviewing a number of proposals and term sheets. While discussions are at an
advanced stage, there can be no certainty that financing can be obtained or on
the terms of any financing.

 

The Company, with support from its advisers, is managing its cash and creditor
position and anticipates retaining sufficient cash to continue trading through
into the second half of May while it finalises funding. The Board cautions
that the Company will need to secure additional financing before the end of
May in order to progress its projects and provide working capital for its
operations.

 

Further updates will be provided as appropriate.

 

 

Enquiries:

 

Beowulf Mining plc

Ed Bowie, Chief Executive Officer
ed.bowie@beowulfmining.com

 

SP Angel

(Nominated Adviser & Joint Broker)

Ewan Leggat / Stuart Gledhill / Adam Cowl       Tel: +44 (0) 20 3470 0470

 

Alternative Resource Capital

(Joint Broker)

Alex Wood
            Tel: +44 (020) 4530 9160

 

BlytheRay

Megan Ray / Rachael Brooks
            Tel: +44 (0) 20 7138 3204

 
                        beowulf@blytheray.com
(mailto:beowulf@blytheray.com)

 

Cautionary Statement

 

Statements and assumptions made in this document with respect to the Company's
current plans, estimates, strategies and beliefs, and other statements that
are not historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are not
limited to, those using words such as "may", "might", "seeks", "expects",
"anticipates", "estimates", "believes", "projects", "plans", strategy",
"forecast" and similar expressions. These statements reflect management's
expectations and assumptions in light of currently available information. They
are subject to a number of risks and uncertainties, including, but not limited
to , (i) changes in the economic, regulatory and political environments in the
countries where Beowulf operates; (ii) changes relating to the geological
information available in respect of the various projects undertaken; (iii)
Beowulf's continued ability to secure enough financing to carry on its
operations as a going concern; (iv) the success of its potential joint
ventures and alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results could differ
materially from those presented and forecast in this document. Beowulf assumes
no unconditional obligation to immediately update any such statements and/or
forecast.

 

 

 

 

 

 

 

 

 

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