Mineral exploration and development company Beowulf’s share price rose by 20% in London on Wednesday on “positive” comments by the new Swedish Prime Minister about the need for new mines in the country.
In a statement addressing its share price movement, Beowulf said its stock was up because of “positive” comments from Magdalena Andersson regarding mining and that the new Minister of Enterprise and Innovation, Karl-Petter Thorwaldsson, had spoken about “taking action” in the Kallak matter.
“The company will be writing to the Minister and seeking clarification on the remaining assessment process in the Kallak case and the timing of a decision,” the firm stated.
Beowulf applied for an exploitation concession eight years ago and has since been struggling to move permitting across the finish line.
The junior’s share price hit a 52-week high of 7.75p each on Wednesday.