The exploration company Beowulf Mining reports, as planned, no revenue in the fourth quarter. The operating loss decreased slightly.All figures refer to continuing operations. The operating result was -0.3 million pounds (-0.4). The result after tax was -0.3 million pounds (-0.4).Beowulf Mining hopes to complete its planned sale of the business in Kosovo, Vardar, within the coming months. "The sale of Vardar will bring in non-dilutive capital that supports the development of Kallak and will also streamline the operations. The offer is still non-binding, but we hope to complete the transaction over the coming months and look forward to updating the market in due course," says CEO Ed Bowie.Grafintec is meeting a large number of investors and sharing its data room. The goal is to secure 5 million euros in capital for the construction of the pilot plant within two years."Grafintec has been informed that its application to Business Finland for a loan of 7 million euros under the program for research, development and pilot projects has not been granted this time, mainly because one of the eligibility criteria has not been met. This is the same reason given for Business Finland's decision on the tax credit, a decision that Grafintec has appealed and is awaiting a formal response to," the company writes. The company hopes that it will be able to resolve the issue with the criteria. Beowulf Mining also states that it is reviewing various financing options that are non-dilutive for shareholders. It further emphasizes that new financing is required at the beginning of April and that it is working on this with its advisers in Sweden and the United Kingdom. Beowulf Mining, MGBPQ4-2025Q4-2024Net sales00Operating result-0.3-0.4Net income-0.3-0.4