- Beowulf Mining said it would raise £1.5m through a share placement to support its graphite exploration efforts.

New shares in the company would be issued at 5p each.

'It is disappointing to raise funds at a lower price than one year ago, a result of further delays in the Kallak permitting process,' chief executive Kurt Budge said.

'But we are very pleased to have completed this fundraising, which maintains our strong cash position, and enables us to keep investing and developing projects across Beowulf's three main business areas.'

At 2:51pm: [LON:BEM] Beowulf Mining PLC share price was -1.15p at 5.45p

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