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Beowulf in Finnish graphite move, share price rally could have legs

By Robert Tyerman | Wednesday 13 January 2016

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Would-be Swedish iron ore developer Beowulf Mining (BEM) is diversifying into graphite projects in Finland with the purchase of Oy Fennoscandian Resources AB, a private company boasting four early-stage projects, in an all-share deal which could eventually put a value of £440,000 on Fennoscandian at today's 6.5p AIM price of Beowulf, three the times the level at which I highlighted the company in June. Steered by chief executive officer Kurt Budge (of the coal clan), Beowulf, which is waiting for what it hopes will be imminent confirmation from the Stockholm government of an exploitation concession for its key Kallak iron ore project in northern Sweden, is issuing shares to Rasmus Blomqvist,

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