Beowulf floored by reindeer

Beowulf Mining, the Sweden-focused mineral explorer, says drilling at its Kallak North and Kallak South sites may be delayed until May this year after objections from the local Saami community.

The Saami are a nomadic people living in northern Scandanavia; they say the drilling will affect their seasonal reindeer herding.

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The company also says Sweden's mining inspector is seeking "to resolve the objections".

The reindeer problem will not be going down well with shareholders, the stock had dropped 13% by 8:45am on news of the delays.

Over the last 12 months Beowulf shares have fallen 79%.

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