(Alliance News) - Bluejay Mining PLC on Monday said the Export-Import Bank of the US expressed its intention to provide USD208 million in debt funding for the capital requirements of the Dundas ilmenite project, located in north-west Greenland.
The exploration & development resource company with projects in Greenland and Finland said the debt will be provided to its subsidiary Dundas Titanium AS, with a maximum repayment term of eight-and-a-half years.
In addition, Bluejay said it is also advancing discussions with European Export Credit Agencies as well as other traditional commercial lenders to ensure the highest quality and most favourable commercial terms available for the development of Dundas.
Bluejay shares were trading 11% higher in London on Monday morning at 10.18 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Bluejay (JAY)