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Beowulf Mining (BEM) investor relations material
Beowulf Mining Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Advanced technical and environmental work for Kallak iron ore project in Sweden, finalizing plant design and logistics studies, with a focus on minimizing environmental impact and engaging stakeholders.
Completed Pre-Feasibility Study (PFS) for the Graphite Anode Materials Plant (GAMP) in Finland, showing robust economics and securing a site reservation in Kotka.
Undertook low-cost exploration in Kosovo, with permit applications pending and a non-binding €4 million offer received for the Vardar subsidiary.
Raised SEK 28.1 million (~£2.2 million) in May 2025 to repay bridge loans and fund project development; secured a £500,000 convertible loan in December for short-term working capital.
Financial highlights
Consolidated loss for 2025 was £1,747,578, down from £1,789,008 in 2024, mainly due to lower salary and finance costs.
Administration expenses fell to £1,382,855 from £1,897,365 year-over-year.
Basic and diluted loss per share for 2025 was 3.34p, improved from 5.13p in 2024.
Cash at year-end was £329,647, down from £881,349 at the end of 2024.
Exploration assets decreased to £15.37 million due to Vardar being classified as held for sale.
Outlook and guidance
Funding strategy focuses on Grafintec equity raise and Vardar sale to finance next development phases and cover costs for at least 12 months.
If Vardar sale or other funding is delayed, additional financing will be needed by early April 2026.
Grafintec is appealing a rejected tax credit and plans to reapply for a €7 million loan; alternative non-dilutive funding sources are being explored.
- Stable losses, lower costs, and urgent funding needs amid project progress and regulatory delays.BEM
Q3 202528 Nov 2025 - Advancing high-grade iron ore and graphite projects to meet Europe's green transition needs.BEM
Investor Update24 Nov 2025 - GBP 4.5m raise targets Kallak PFS, GAMP pilot, and ESG-driven growth with new institutional backing.BEM
Investor Update24 Nov 2025 - Advancing critical mineral projects in Europe to meet green transition and supply chain needs.BEM
Corporate Presentation10 Sep 2025 - Capital raise supports project progress, but higher losses and funding needs persist.BEM
Q2 202529 Aug 2025 - Advancing high-grade iron ore and graphite projects to support Europe's green transition.BEM
Corporate Presentation7 Jul 2025 - Advancing high-grade iron ore and graphite projects to support Europe's green transition.BEM
Corporate Presentation7 Jul 2025 - Nordic iron ore and graphite assets drive green transition and supply chain security.BEM
Corporate Presentation7 Jul 2025 - Losses narrowed as key projects advanced, but future funding remains a material uncertainty.BEM
Q3 202413 Jun 2025
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