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Bluejay Mining PLC - base metals and gold exploration and development in Greenland and Finland - Proposes to raise GBP1.1 million via placing of 280 million shares at 0.4 pence each. The placing is to take place in two separate tranches, with the initial around 150 million shares being issued and any further shares only issued following the passing of the resolutions at the general meeting. Proceeds will fund field activities and travel, legal and administrative costs, project divestment activities, regulatory and licensing costs and for general corporate and working capital purposes. The placing to be conducted via an accelerated bookbuild process.
Current stock price: 0.46 pence
12-month change: down 91%
By Jeremy Cutler, Alliance News reporter
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