UK's Beowulf Mining falls after lead investor declines to extend financing deadline

Beowulf Mining

29/09/2026 10:39

** Shares of UK-based mining company Beowulf Mining BEM.L down 16% at 5.25p 
** Co says Bacchus Capital, the lead backer of a proposed strategic investment forming part of a £4.3 million ($5.69 million) financing, will not extend a Sept. 30 long-stop date amid a Swedish regulatory review
** Investor Alumni Capital agreed to extend the longstop date under the agreement to December 31 subject to an extension fee of £30,000
** Beowulf said it is reducing spending, including cutting salaries, and seeking about £110,000 in interim funding to keep operating till 2026 end.
** YTD, stock had fallen 52% so far this year
     
($1 = 0.7559 pounds)

 (Reporting by Roshni Srivastava in Bengaluru)
 ((roshni.srivastava@thomsonreuters.com))